Updated Dec 21, 2023
Popular Bank Provides $33.5M Construction Loan For Development Site At 150 Noll Street, Bushwick, Brooklyn
150 Noll Street
$33,500,000
Building Size
—
Asset Type
Development Site
Closing
Apr 17, 2023
About this deal
AI
The development site located at 150 Noll Street in Bushwick, Brooklyn was the subject of a recent closed transaction. The property is a valuable asset with a loan amount of $33,500,000. Popular Bank provided the construction loan for this project. The site is owned by Abraham Stern & Yechiel Stern, who represent the landlord in this deal.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $33,500,000
- Lender: Popular Bank
- Landlord: Abraham Stern & Yechiel Stern
It is noteworthy that the loan was obtained on 12/29/2022, highlighting the recent nature of the transaction. The property at 150 Noll Street is situated in the market of Bushwick, Brooklyn. This location offers potential for development and proves to be a lucrative investment for the parties involved in the deal.
On the Map
$33,500,000
Development Site
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.47%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93