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Jacob Landau And Pinches Abowitz Secure $52M Construction Loan From Popular Bank For Development Site In Brooklyn
FINANCED
New York
See Similar DealsDevelopment Site
Financed 08/12/2025
FINANCED
Jacob Landau And Pinches Abowitz Secure $52M Construction Loan From Popular Bank For Development Site In Brooklyn
1832 Fulton Street
See Similar DealsDevelopment Site
Financed 08/12/2025
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Loan
1832 Fulton Street is a development site located in Bedford Stuyvesant, Brooklyn. The property is part of a project that aims to develop 212 residential units, supported by a construction loan of $52 million from Popular Bank.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $52,000,000
- Lender: Popular Bank
- Landlord: Jacob Landau & Pinches Abowitz
- Date: 08/12/2025
- Address: 1832 Fulton Street
- Market: Bedford Stuyvesant, Brooklyn
- Loan Type: Construction
Jacob Landau and Pinches Abowitz, through 1832 Fulton Street LLC, are key individuals involved in this transaction, having secured the loan for the ongoing development project aimed at expanding residential accommodations in the area.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$52,000,000.00
Monthly NOI$346,666.67
Monthly Debt Service$328,675.37
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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