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134 Vanderbilt Avenue

Bank Hapoalim Loans $36.2M For Development Site At 134 Vanderbilt Avenue, Fort Greene, Brooklyn
FINANCEDDevelopment Site

Bank Hapoalim Loans $36.2M For Development Site At 134 Vanderbilt Avenue, Fort Greene, Brooklyn

134 Vanderbilt Avenue

$36,240,000

Building Size

Asset Type

Development Site

Closing

Dec 21, 2022

AI

A development site located at 134 Vanderbilt Avenue in Fort Greene, Brooklyn has recently undergone a closed transaction. The property, situated in the Fort Greene market, has attracted attention due to its potential for development.

Summary of transaction details

The financing for the transaction was provided by Bank Hapoalim. Representing the parties involved in the deal were Adam Hakim, James Murad, and David Baker from Meridian Capital Group. Their expertise and negotiation skills played a crucial role in securing the loan for the development site.

Players

James Murad

Ripco

Broker

$3B

vol

63 deals

Broker
Bank Hapoalim (BHI)
Bank Hapoalim (BHI)Lender

Brooklyn Development Site Market Snapshot

Boundary boundary · Development Site · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.44%

Cash-on-Cash

-0.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93