Updated Oct 29, 2024
Jg Funding Corp Provides $1.8M Acquisition Loan For Williamsburg Development Site
334 Bedford Avenue
$1,800,000
Building Size
—
Asset Type
Development Site
Closing
Dec 12, 2022
About this deal
AI
A development site located at 334 Bedford Avenue in Williamsburg has recently undergone a closed transaction. The property, which spans an undisclosed square footage, was involved in an acquisition transaction. The lender, Jg Funding Corp, provided a loan amount of $1,800,000 for the deal. The loan is classified as a 1st lien, fixed rate loan with a term of 12 months plus extensions. The loan terms also include an interest-only payment structure.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $1,800,000
- Lender: Jg Funding Corp
- Loan Type: Acquisition
- Loan Terms: 1st Lien, Fixed Rate, 12 months + extensions; I/O payment
This transaction involved Jeremy Goldzal and Josh Grunzweig as key individuals. They represent Jg Funding Corp, the lender responsible for providing the $1,800,000 loan for the development site acquisition at 334 Bedford Avenue in Williamsburg.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
8.81%
Cash-on-Cash
-2.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93