Updated Oct 28, 2024
S3 Architecture Acquires 110-Acre Development Site In Clinton, NY With $675K Bridge Loan From @HEquities
17281 Pumpkin Lane, Clinton Corners, Clinton, NY, USA
$675,000
Building Size
—
Asset Type
Development Site
Closing
Nov 15, 2021
About this deal
AI
A 110-acre development site located at 17281 Pumpkin Lane in Clinton, NY has recently closed in a property transaction. The deal involved a bridge loan provided by @HEquities, represented by Elliot Horowitz. The loan amount was $675,000, and the terms of the loan were set at 12 months.
Summary of Transaction Details
- Property Type: Development Site
- Transaction Amount: $675,000
- Address: 17281 Pumpkin Lane
- Market: Clinton, NY
- Asset Type: Development Site
- Acres: 110
The landlord for the property is S3 Architecture, represented by Doug Maxwell and Chris Dierig. The transaction was completed swiftly, as the loan for the 110-acre land for single-family residential (SFR) development closed in just two weeks. @HEquities expressed their gratitude to all parties involved and extended their best wishes to Doug and Chris for their future endeavors.
Players
Clinton Corners Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
23.50%
Cash-on-Cash
-6.72%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93