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186 Huron St, Brooklyn, NY ...

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

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

S3 Capital
S3 CapitalLender

Adam Greenberg

Core Investment Management

Landlord

$131.4M

vol

7 deals

Landlord

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