Updated Jun 4, 2026
Ponce Bank Provides $32.5M Construction Loan For Development Site At 1445 Fulton Street
1445 Fulton Street
$32,500,000
Building Size
—
Asset Type
Development Site
Closing
Apr 28, 2026
About this deal
AI
The development site located at 1445 Fulton Street in Brooklyn encompasses a buildable square footage (BSF) of 78,362. This asset is associated with a construction loan amounting to $32,500,000, structured for a term of 24 months.
Summary of transation details:
- Property Type: Development Site
- Transaction Amount: $32,500,000
- Lender: Ponce Bank
- Landlord's Representatives: Leah Paskus, Pinchas Vogel & Ernest Lefkowitz - Landstone Capital Group
- Lender's Attorney: Jane Chen, Esq. - The Usinger Law Practice PLLC
Key participants in this transaction include Douglas Romero, Ioannis Kouzilos, and Elia Aguilar representing Ponce Bank. These individuals were integral to facilitating the loan agreement detailed above.
On the Map
$32,500,000
Development Site
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Players
Brooklyn Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.49%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93