Updated Feb 16, 2024
Webster Bank Provides $14M Construction Loan For Development Site In East Flatbush, Brooklyn
335 Linden Boulevard, Brooklyn, New York 11226, United States
$14,000,000
$486/SF
Building Size
28,757 SF
Asset Type
Development Site
Closing
Sep 20, 2022
About this deal
AI
A development site located at 335 Linden Boulevard in East Flatbush, Brooklyn has been involved in a recent closed transaction. The property spans approximately 28,757 square feet and consists of 41 units. The transaction included a loan from Webster Bank and the involvement of Chaim Wurzberger as the landlord.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $14,000,000
- Loan Type: Construction
Webster Bank provided a construction loan of $14,000,000 for the development project at 335 Linden Boulevard. Chaim Wurzberger acted as the landlord in the transaction.
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
1.13%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93