Northwind Group Provides $6M Loan For Development Site In South Bronx - Uri Mermelstein & Joseph Yushuvayev's Top Rock Holdings The Landlord
2970 3rd Avenue, Bronx, NY 10455
$6,000,000
$49/SF
Building Size
120,764 SF
Asset Type
Development Site
Closing
Aug 27, 2021
AI
A development site located at 2970 Third Avenue in the South Bronx has been involved in a closed transaction. The property, with a building square footage (BSF) of 120,764, was the subject of the deal.
Summary of transaction details
- Property Type: Development Site
- Transaction Date: 08/27/2021
- Address: 2970 Third Avenue
- Market: South Bronx
- BSF: 120,764
The lender for this transaction was the Northwind Group, represented by Gabriel Hamani and Ran Eliasaf. The loan amount for the deal was $6,000,000. The landlord of the property is Top Rock Holdings, with Uri Mermelstein and Joseph Yushuvayev as the representatives. Avihu Kadosh served as the broker in the transaction.
If you have any opportunities related to this transaction, please contact [email protected].
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
2.64%
Cash-on-Cash
-0.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93