Ekstein Development Secures $16.9M Loan For Development Site On Broadway - Bushwick
FINANCED
$16,884,324
New York
See Similar DealsDevelopment Site56,984 SF
Financed 04/01/2020
FINANCED
Ekstein Development Secures $16.9M Loan For Development Site On Broadway - Bushwick
1389 Broadway, Brooklyn, NY 11221, USA
See Similar DealsDevelopment Site56,984 SF
Financed 04/01/2020
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$296
Total Square Footage:56,984 SF
Transaction Type:Loan
Erik Ekstein of Ekstein Development has closed a deal on a development site located at 1389 Broadway in the Bushwick market. The property, which spans 56,984 square feet, was acquired for a loan amount of $16,884,324 from citibank''>Citibank.
Summary of transaction details:
- Property Type: Development site
- Transaction Amount: $16,884,324
- Address: 1389 Broadway
- Market: Bushwick
Erik Ekstein, representing Ekstein Development, successfully secured funding from Citibank for the acquisition of the 56,984 square foot development site at 1389 Broadway in Bushwick.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$16,884,324.00
Monthly NOI$112,562.16
Monthly Debt Service$106,720.41
Change in Cash Flow$0.00
Refinance Proceeds$0.00
Is there something missing? Send suggestions