Updated Oct 29, 2024
Douglaston Development Secures $75.6M Loan For Bronx Development Site
2856 Webster Avenue, Bronx, NY, USA
$75,584,455
$4,834/SF
Building Size
15,635 SF
Asset Type
Development Site
Closing
Feb 7, 2021
About this deal
AI
The development site located at 2856 Webster Avenue in the Bronx has undergone a transaction recently. The property, consisting of 188 units, was involved in this deal, with Jeffrey Levine and @Ben Levine sharing an image on Instagram that showcases the transaction.
Summary of transaction details
- Property Type: Development site
- Transaction Amount: $75,584,455
- Date: 02/08/2021
- Address: 2856 Webster Avenue
- Market: Bronx
During the transaction, the New York State Housing Finance Agency acted as the lender, providing the necessary funds for the deal. Douglaston Development served as the landlord in this transaction.
On the Map
$75,584,455
$4,834/SF
Development Site
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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
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93