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Zev Mayer Secures $11.9 Million Construction Loan From Larry Abramowitz For Far Rockaway Development
FINANCED
$11,900,000
New York
See Similar DealsDevelopment Site
Financed 12/17/2025
FINANCED
Zev Mayer Secures $11.9 Million Construction Loan From Larry Abramowitz For Far Rockaway Development
3229 Far Rockaway Boulevard
See Similar DealsDevelopment Site
Financed 12/17/2025
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Loan
The asset involved is a development site located at 3229 Far Rockaway Boulevard in Far Rockaway, Queens. The site encompasses a total of 107,646 square feet. A construction loan of $11,900,000 has been secured for the new residential project.
Summary of transation details:
- Property Type: Development Site
- Transaction Amount: $11,900,000
- Lender: Larry Abramowitz - Broadview Capital
- Landlord: Zev Mayer
- Loan Type: Construction
- Location: 3229 Far Rockaway Boulevard, Far Rockaway, Queens
In this transaction, Zev Mayer’s 3229 Fb LLC is the borrower, obtaining financing from Broadview Capital for an upcoming residential project consisting of 88 units at the specified address.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$11,900,000.00
Monthly NOI$79,333.33
Monthly Debt Service$75,216.09
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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