JEMB Realty And CanAm Capital Partners Secure $135M Construction Loan For Development Site In Windsor Terrace, Brooklyn
FINANCED
$135,000,000
New York
See Similar DealsDevelopment Site
Financed 08/03/2022
FINANCED
JEMB Realty And CanAm Capital Partners Secure $135M Construction Loan For Development Site In Windsor Terrace, Brooklyn
312 Coney Island Avenue, Brooklyn, New York 11218, United States
See Similar DealsDevelopment Site
Financed 08/03/2022
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Loan
The development site located at 312 Coney Island Avenue, 11 Ocean Parkway in Windsor Terrace has undergone a closed transaction. The property is a development site with a total of 350 units. The transaction was completed on 08/03/2022. The loan for this transaction was provided by Wells Fargo, in the amount of $135,000,000. The loan type for this transaction was construction.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $135,000,000
- Address: 312 Coney Island Avenue, 11 Ocean Parkway
- Market: Windsor Terrace
- Units: 350
The landlord involved in this transaction is JEMB Realty, represented by Morris Jerome and CanAm Capital Partners. They played a crucial role in facilitating this closed deal.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$135,000,000.00
Monthly NOI$900,000.00
Monthly Debt Service$853,291.83
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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