Paradigm Commercial Real Estate Secures $12.05M Construction Loan For Croton-on-Hudson Development Site
FINANCED
$12,050,000
New York
See Similar DealsDevelopment Site
Financed 12/13/2022
FINANCED
Paradigm Commercial Real Estate Secures $12.05M Construction Loan For Croton-on-Hudson Development Site
25 South Riverside Avenue
See Similar DealsDevelopment Site
Financed 12/13/2022
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Loan
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
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$12,050,000.00
Monthly NOI$80,333.33
Monthly Debt Service$76,164.20
Change in Cash Flow$0.00
Refinance Proceeds$0.00
Is there something missing? Send suggestions