Bank Hapoalim Provides $36.2M Construction Loan For Development Site On Vanderbilt Ave
FINANCED
$36,240,000
New York
See Similar DealsDevelopment Site
Financed 12/21/2022
FINANCED
Bank Hapoalim Provides $36.2M Construction Loan For Development Site On Vanderbilt Ave
134 Vanderbilt Avenue
See Similar DealsDevelopment Site
Financed 12/21/2022
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Loan
A construction loan in the amount of $36,240,000 has been secured for a development site located at 134 Vanderbilt Avenue in Fort Greene, Brooklyn. The loan, provided by Bank Hapoalim, will be used to finance the construction of the project.
Summary of transaction details:
- Property Type: Development Site
- Loan Amount: $36,240,000
- Loan Type: Construction
Meridian Capital Group represented the parties involved in this transaction. Adam Hakim, James Murad, and David Baker from Meridian Capital Group acted as the brokers for the deal.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$36,240,000.00
Monthly NOI$241,600.00
Monthly Debt Service$229,061.45
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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