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EJS Group Secures $112.5M Construction Loan For Lenox Hill Condo Project
FINANCED
$112,500,000
New York
See Similar DealsDevelopment Site
Financed 09/29/2023
FINANCED
EJS Group Secures $112.5M Construction Loan For Lenox Hill Condo Project
200 East 75th Street
See Similar DealsDevelopment Site
Financed 09/29/2023
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Loan
Theodore Zellie Segal's EJS Group has secured a $112.5 million construction loan from Cliffton Hill's Bank OZK for a development site located at 200 East 75th Street in Lenox Hill, Manhattan. The property is a 36-unit condominium project with a buildable square footage (BSF) of 97,569.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $112,500,000
- Lender: Cliffton Hill - Bank OZK
- Landlord: Theodore Segal - EJS Group
- Loan Type: Construction
Theodore Zellie Segal, representing EJS Group, successfully secured the $112.5 million construction loan from Cliffton Hill's Bank OZK. The loan will be used to fund the construction of the 36-unit condominium project at 200 East 75th Street in Lenox Hill, Manhattan.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$112,500,000.00
Monthly NOI$750,000.00
Monthly Debt Service$711,076.53
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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