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Aview Equties Secures $29M Construction Loan For Development Site On Livingston St., Downtown Brooklyn

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FINANCED
$29,000,000

New York

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Development Site600,000 SF
Financed 11/19/2018
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FINANCED

Aview Equties Secures $29M Construction Loan For Development Site On Livingston St., Downtown Brooklyn

291 Livingston St, Brooklyn, NY 11217, USA

See Similar Deals
Development Site600,000 SF
Financed 11/19/2018
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Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$48
Total Square Footage:600,000 SF
Transaction Type:Loan

Located in Downtown Brooklyn, a development site at 291 Livingston Street has recently closed in a transaction. The property, spanning an area of 60,000 square feet, was acquired by an undisclosed buyer. The deal involved a construction loan of $29,000,000 provided by Acres, a lending institution. The landlord of the site is Aview Equties. Emenual Westfried from an undisclosed agency represented the buyer as their broker in this transaction.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $29,000,000
  • Address: 291 Livingston Street
  • Market: Downtown Brooklyn
  • Lender: Acres
  • Landlord: Aview Equties
  • Broker: Emenual Westfried
  • Loan Type: Construction loan
  • BSF: 60,000

This transaction involved various key individuals and companies. The buyer, whose identity remains undisclosed, enlisted the representation of Emenual Westfried from an undisclosed agency as their broker. The lending institution, Acres, provided a construction loan of $29,000,000. Aview Equties acted as the landlord in this deal.

Players

11 deals$886.1M volume
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Details

FINANCED
IMAGE: Abraham Leifer DATE: 11/19/2018 ADDRESS: 291 Livingston Street MARKET: Downtown Brooklyn ASSET TYPE: Development Site LENDER: Acres LANDLORD: Aview Equties BROKER: Emenual Westfried LOAN AMOUNT: $29,000,000 LOAN TYPE: Construction loan BSF: 60,000

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$29,000,000.00

Monthly NOI$193,333.33
Monthly Debt Service$183,299.73
Change in Cash Flow$0.00
Refinance Proceeds$0.00