Daily limit: 0/10
VAJA Group Secures $29.3M Refi Loan For Development Site At 1420 Stebbins Avenue In The Bronx
FINANCED
$29,327,000
New York
See Similar DealsDevelopment Site53,929 SF
Financed 04/26/2023
FINANCED
VAJA Group Secures $29.3M Refi Loan For Development Site At 1420 Stebbins Avenue In The Bronx
1420 Stebbins Ave Bronx, NY 10459, USA
See Similar DealsDevelopment Site53,929 SF
Financed 04/26/2023
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$543
Total Square Footage:53,929 SF
Transaction Type:Loan
The VAJA Group has successfully secured a $29.3 million refinance loan from JLL Real Estate Capital for their development site located at 1420 Stebbins Avenue in East Morrisania, Bronx. The site is currently undergoing new building construction for a 73-unit, 53,929 square-foot R-2 building. The loan transaction was finalized on April 26 and officially recorded on May 1.
Summary of transaction details
- Property Type: Development Site
- Loan Amount: $29,327,000
- Loan Type: Refinance
- Lender: JLL - Teresa Goerish
- Landlord: VAJA Group - Moses Freund
This significant financing deal was facilitated by Teresa Goerish, the representative from JLL Real Estate Capital, who worked closely with the VAJA Group, represented by Moses Freund, to secure the loan. The successful refinance loan enables the VAJA Group to continue the development of their 53,929 square-foot R-2 building in East Morrisania, Bronx.
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
$29,327,000.00
Monthly NOI$195,513.33
Monthly Debt Service$185,366.59
Change in Cash Flow$0.00
Refinance Proceeds$0.00
Is there something missing? Send suggestions