New York City Housing Development Corporation Provides $100M Loan For Tremont Development Site
FINANCED
$100,105,030
New York
See Similar DealsDevelopment Site19,000 SF
Financed 12/17/2020
FINANCED
New York City Housing Development Corporation Provides $100M Loan For Tremont Development Site
1927 West Farms Road, The Bronx, NY, USA
See Similar DealsDevelopment Site19,000 SF
Financed 12/17/2020
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$5,268
Total Square Footage:19,000 SF
Transaction Type:Loan
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.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$100,105,030.00
Monthly NOI$667,366.87
Monthly Debt Service$632,731.88
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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