Ponce Bank Provides $32.5M Construction Loan For Development Site At 1445 Fulton Street
FINANCED
$32,500,000
+ 1
New York
See Similar DealsDevelopment Site
Financed 04/29/2026
FINANCED
Ponce Bank Provides $32.5M Construction Loan For Development Site At 1445 Fulton Street
1445 Fulton Street
See Similar DealsDevelopment Site
Financed 04/29/2026
+ 1
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Loan
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.
Players
BROKERAGE
ORIGINATOR
ORIGINATOR
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$32,500,000.00
Monthly NOI$216,666.67
Monthly Debt Service$205,422.11
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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