Updated Feb 16, 2024
Popular Bank Provides $33.26M Construction Loan For Development Site On Park Avenue, Fort Greene
205 Park Avenue, Brooklyn, New York 11205, United States
$33,260,000
$463/SF
Building Size
71,721 SF
Asset Type
Development Site
Closing
Oct 18, 2021
About this deal
AI
A development site located at 205 Park Avenue in Fort Greene has been involved in a recent closed transaction. The property has a buildable square footage (BSF) of 71,721 and consists of 90 units. The transaction took place on 10/19/2021.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $33,260,000
- Address: 205 Park Avenue, Fort Greene
- Market: Fort Greene
- Buildable Square Footage (BSF): 71,721
- Units: 90
The loan for this transaction was provided by Popular Bank in the amount of $33,260,000. The loan type for this transaction is construction. The landlord involved in this transaction is Bruchy Lefkowitz.
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
0.48%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93