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Gilad Tamir And Adam Greenberg Develop 10-Unit Condo Building On Huron Street In Greenpoint, Brooklyn

Property Image
FINANCED
$6,500,000

New York

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Development Site143,860 SF
Financed 01/10/2020
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Property Image
FINANCED

Gilad Tamir And Adam Greenberg Develop 10-Unit Condo Building On Huron Street In Greenpoint, Brooklyn

186 Huron St, Brooklyn, NY 11222, USA

See Similar Deals
Development Site143,860 SF
Financed 01/10/2020
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Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$45
Total Square Footage:143,860 SF
Transaction Type:Loan

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

LENDER

Adam Greenberg
7 deals$131.4M volume
LANDLORD

Adam Greenberg
7 deals$131.4M volume
LANDLORD

Adam Greenberg
7 deals$131.4M volume
LANDLORD

Gilad Tamir
7 deals$140.7M volume
LANDLORD

Details

FINANCED
IMAGE: Robert Schwartz, Adam Greenberg & Gilad Tamir DATE: 01/10/2020 ADDRESS: 186 Huron Street MARKET: Greenpoint, Brooklyn ASSET TYPE: Development Site LENDER: S3 Capital Partners LANDLORD: Gilad Tamir and Adam Greenberg LOAN AMOUNT: $6,500,000 SF: 14,386 UNITS: 10 NOTE: development of a 10-unit condo building

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$6,500,000.00

Monthly NOI$43,333.33
Monthly Debt Service$41,084.42
Change in Cash Flow$0.00
Refinance Proceeds$0.00