Webster Bank Provides $14M Construction Loan For Development Site In East Flatbush, Brooklyn
FINANCED
$14,000,000
New York
See Similar DealsDevelopment Site28,757 SF
Financed 09/21/2022
FINANCED
Webster Bank Provides $14M Construction Loan For Development Site In East Flatbush, Brooklyn
335 Linden Boulevard, Brooklyn, New York 11226, United States
See Similar DealsDevelopment Site28,757 SF
Financed 09/21/2022
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$486
Total Square Footage:28,757 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$14,000,000.00
Monthly NOI$93,333.33
Monthly Debt Service$88,489.52
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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