Updated Oct 28, 2024
Richard Zavlyanov's Diamond Dev Group Secures $4.3M Loan For Ocean Hill Development Site
2264 Atlantic Avenue, Ocean Hill, Brooklyn, NY, USA
$4,254,542
$2,069/SF
Building Size
2,056 SF
Asset Type
Development Site
Closing
Jun 8, 2020
About this deal
AI
A development site located at 2264 & 2266 Atlantic Avenue in Ocean Hill, Brooklyn has been involved in a closed transaction. The property, a development site, offers potential for future construction projects. The transaction date was on June 8, 2021. The loan for the transaction was provided by NorthEast Community Bank in the amount of $4,254,542. The developer of the site is Richard Zavlyanov, representing Diamond Dev Group.
Summary of transaction details:
- Property Type: Development Site 🏗
- Transaction Amount: $4,254,542
- Address: 2264 & 2266 Atlantic Avenue, Ocean Hill, Brooklyn
- Market: Ocean Hill, Brooklyn
The loan was facilitated by NorthEast Community Bank. Richard Zavlyanov, from Diamond Dev Group, served as the developer for this project.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.73%
Cash-on-Cash
-1.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93