Nexus Development Group Secures $10.8 Million Refinance Loan From Derby Copeland Capital
FINANCED
$10,800,000
New York
See Similar DealsDevelopment Site
Financed
FINANCED
Nexus Development Group Secures $10.8 Million Refinance Loan From Derby Copeland Capital
222 Henry Street
See Similar DealsDevelopment Site
Financed
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Loan
The asset involved in this transaction is a development site located at 222 Henry Street in Brooklyn. It has a building square footage of 8,780 and has secured a loan amount of $10,800,000. The loan type is a refinance with terms set for 24 months at Sofr + 575.
Summary of transation details:
- Property Type: Development Site
- Transaction Amount: $10,800,000
- Lender: Derby Copeland Capital
- Landlord: Nexus Development Group
- Brokers: Michael Helmreich, Jake Gluck & Asher Spingarn - Fortune Capital Group
- Loan Terms: 24 Months, Sofr + 575
The individuals involved in this deal include Michael Helmreich, Jake Gluck, and Asher Spingarn, who represent the Fortune Capital Group in facilitating the transaction. For any financing inquiries, interested parties are encouraged to reach out to Michael Helmreich at 973-986-5954 or via email at [email protected].
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BROKERAGE
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$10,800,000.00
Monthly NOI$72,000.00
Monthly Debt Service$68,263.35
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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