Gilad Tamir And Adam Greenberg Develop 10-Unit Condo Building On Huron Street In Greenpoint, Brooklyn
186 Huron St, Brooklyn, NY 11222, USA
$6,500,000
$45/SF
Building Size
143,860 SF
Asset Type
Development Site
Closing
Jan 9, 2020
AI
186 Huron Street, a development site located in the Greenpoint neighborhood of Brooklyn, was recently involved in a closed property transaction. The property spans 14,386 square feet and is designated for the development of a 10-unit condominium building. The deal was facilitated by Robert Schwartz, Adam Greenberg, and Gilad Tamir.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $6,500,000
- Address: 186 Huron Street
- Market: Greenpoint, Brooklyn
- Square Footage: 14,386
- Units: 10
S3 Capital Partners served as the lender for this transaction, providing a loan of $6,500,000. The property is owned by Gilad Tamir and Adam Greenberg, who acted as the landlords in the deal. With the loan secured, the development of the 10-unit condo building can proceed.
Players
New York 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
2.44%
Cash-on-Cash
-0.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93