Updated Apr 3, 2025
Richard Zavlyanov Secures $4 Million Construction Loan From Ponce Bank For Development Site In Jamaica
177 44 129th Avenue
$4,000,000
$833/SF
Building Size
4,800 SF
Asset Type
Development Site
Closing
Mar 27, 2024
About this deal
AI
The property asset involved in this transaction is a development site located at 177-44 129th Avenue in Jamaica, featuring a building square footage of 4,800 and a total buildable square footage of 14,500.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $4,000,000
- Market: Jamaica
- Lender: Ponce Bank
- Developer: Richard Zavlyanov
- Loan Type: Construction
- Loan Terms: 8.5% Fixed
The key individuals involved in the deal include Richard Zavlyanov, who is the developer, and Ponce Bank, serving as the lender for the construction loan. This transaction highlights the financing terms established between the parties for the development project.
On the Map
$4,000,000
$833/SF
Development Site
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Players
Jamaica Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93