PSG Lending Provides $5.7M Loan For Development Site In Brooklyn
237 Rutland Road, Brooklyn, NY, USA
$5,700,000
$438/SF
Building Size
13,000 SF
Asset Type
Development Site
Closing
Feb 17, 2021
AI
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Summary of transaction details
- Property Type: Development site
- Transaction Amount: $5,700,000
- Address: 237 Rutland Road, Brooklyn
- Market: Brooklyn
- Asset Type: Development site
- Building Square Footage: 13,000
This transaction involves a development site located at 237 Rutland Road in Brooklyn. The property spans 13,000 square feet and was valued at $5,700,000. The development site is owned by Croxdale Real Estate, represented by Nigel Boyden. The loan for this transaction was provided by PSG Lending, with Elliot Berlin serving as the lender's representative. The broker involved in this deal is Eric Gleitman from Mercury Capital Markets.
Please note that no additional details were provided in the CONTEXT.
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
2.78%
Cash-on-Cash
-0.80%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93