FINANCED
Paradigm Commercial Real Estate Secures $12.05M Construction Loan For Croton-on-Hudson Development Site
25 south riverside avenue
Development Site
Financed 1 year ago
Summary
Loan
NEW YORK
Development Site
A construction loan in the amount of $12,050,000 has been secured for a development site located at 25 South Riverside Avenue in Croton-on-Hudson. The loan terms include 75% Loan-to-Cost (LTC) ratio, with a fixed interest rate of 6.7% for 3 years. The loan will be interest-only for the full term.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $12,050,000
- Address: 25 South Riverside Avenue, Croton-on-Hudson
- Market: Croton-on-Hudson
The landlords of the development site are Phil Spagnoli and Ralph Rossi. The deal was facilitated by Adrian Edery and Sara Frankel from Paradigm Commercial Real Estate acting as brokers.
Players
Details
FINANCED
IMAGE: Adrian Edery & Sara Frankel
DATE: 12/13/2022
ADDRESS: 25 South Riverside Avenue
MARKET: Croton-on-Hudson
ASSET TYPE: Development Site
LANDLORD: Phil Spagnoli & Ralph Rossi
BROKERS: Adrian Edery & Sara Frankel - Paradigm Commercial Real Estate
LOAN AMOUNT: $12,050,000
LOAN TYPE: Construction
LOAN TERMS: 75% LTC, 3yrs Fixed at 6.7%, Full Term IOView on map
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Address25 south riverside avenue
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