Sage Usher Of Ushjo Provides $3.2M Construction Loan For Development Site In Brooklyn
FINANCED
$3,200,000
New York
See Similar DealsDevelopment Site4,045 SF
Financed
FINANCED
Sage Usher Of Ushjo Provides $3.2M Construction Loan For Development Site In Brooklyn
172 North 6th Street
See Similar DealsDevelopment Site4,045 SF
Financed
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$791
Total Square Footage:4045 SF
Transaction Type:Loan
The property asset involved in the transaction is located at 172 North 6th Street, Brooklyn. This development site has an area of 4,045 square feet with a building square footage of 4,045. The loan amount secured for the asset totals $3,200,000, structured as a construction loan.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $3,200,000
- Address: 172 North 6th Street
- Market: Brooklyn
- Asset Square Footage: 4,045 SF
- Building Square Footage: 4,045 BSF
- Lender: Sage Usher - Ushjo
- Landlord: Rawad Halloway
- Broker Representatives: Michael Helmreich & Jake Gluck - Fortune Capital Group
- Loan Type: Construction
The key individuals involved in this transaction include the lender Sage Usher, who represents Ushjo, and the landlord Rawad Halloway. The brokerage services were provided by Michael Helmreich and Jake Gluck from Fortune Capital Group, who acted as the broker representatives in the deal.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$3,200,000.00
Monthly NOI$21,333.33
Monthly Debt Service$20,226.18
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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