Updated Oct 29, 2024
New York City Housing Development Corporation Provides $100M Loan For Tremont Development Site
1927 West Farms Road, The Bronx, NY, USA
$100,105,030
$5,268/SF
Building Size
19,000 SF
Asset Type
Development Site
Closing
Dec 16, 2020
About this deal
AI
A development site at 1927 West Farms Road in Tremont has been involved in a recent transaction. The property, owned by Monadnock Development, was the subject of a loan deal with the New York City Housing Development Corporation. The loan amount for this transaction was $100,105,030.
Summary of transaction details
- Property Type: Development site
- Transaction Amount: $100,105,030
- Lender: New York City Housing Development Corporation
- Landlord: Monadnock Development
- Date: 12/17/2020
- Market: Tremont
Nick Lembo and Alphonse Lembo were the individuals involved in this transaction.
On the Map
$100,105,030
$5,268/SF
Development Site
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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
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93