Updated Oct 28, 2024
Bank Leumi Provides $81.8M Construction Loan For Development Site In Upper East Side
310-314 East 86th Street, Manhattan, New York, NY, USA
$81,800,000
Building Size
—
Asset Type
Development Site
Closing
Sep 22, 2021
About this deal
AI
A development site located at 310-314 E. 86th Street in the Upper East Side has secured a construction loan from Bank Leumi for an amount of $81,800,000. The property is owned by @IzakiGroup Investments and the architectural design is being handled by @ODANewYork, led by Eran Chen.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $81,800,000
- Address: 310-314 E. 86th Street
- Market: Upper East Side
- Lender: Bank Leumi 🇮🇱
- Landlord: @IzakiGroup Investments
- Architect: @ODANewYork - Eran Chen
- Loan Type: Construction Loan
Eran Chen, representing @ODANewYork, is overseeing the architectural aspects of the development site. Eran Chen is known for his expertise in creating innovative and functional designs. The loan provided by Bank Leumi is expected to support the construction progress and development of the site.
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.19%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93