Richard Zavlyanov Secures $4 Million Construction Loan From Ponce Bank For Development Site In Jamaica
FINANCED
$4,000,000
New York
See Similar DealsDevelopment Site4,800 SF
Financed 03/27/2024
FINANCED
Richard Zavlyanov Secures $4 Million Construction Loan From Ponce Bank For Development Site In Jamaica
177 44 129th Avenue
See Similar DealsDevelopment Site4,800 SF
Financed 03/27/2024
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$833
Total Square Footage:4,800 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$4,000,000.00
Monthly NOI$26,666.67
Monthly Debt Service$25,282.72
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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