Douglaston Development Secures $75.6M Loan For Bronx Development Site
FINANCED
$75,584,455
New York
See Similar DealsDevelopment Site15,635 SF
Financed 02/08/2021
FINANCED
Douglaston Development Secures $75.6M Loan For Bronx Development Site
2856 Webster Avenue, Bronx, NY, USA
See Similar DealsDevelopment Site15,635 SF
Financed 02/08/2021
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$4,834
Total Square Footage:15,635 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$75,584,455.00
Monthly NOI$503,896.37
Monthly Debt Service$477,745.17
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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