New York City Housing Development Corporation Provides $135.3M Loan For Development Site In Greenpoint
FINANCED
$135,293,079
New York
See Similar DealsDevelopment Site44,599 SF
Financed 06/24/2021
FINANCED
New York City Housing Development Corporation Provides $135.3M Loan For Development Site In Greenpoint
35 Commercial Street, Greenpoint, Brooklyn, NY, USA
See Similar DealsDevelopment Site44,599 SF
Financed 06/24/2021
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$3,033
Total Square Footage:44,599 SF
Transaction Type:Loan
A development site located at 35 Commercial Street in Greenpoint has been involved in a recent loan transaction. The New York City Housing Development Corporation provided a loan amount of $135,293,079 for this development site. The property is owned by Park Tower Group.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $135,293,079
- Date: 06/24/2021
- Address: 35 Commercial Street
- Market: Greenpoint
- Lender: New York City Housing Development Corporation
- Landlord: Park Tower Group
Eric Enderlin, the representative from New York City Housing Development Corporation, played a key role in facilitating this loan transaction for the development site at 35 Commercial Street in Greenpoint.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$135,293,079.00
Monthly NOI$901,953.86
Monthly Debt Service$855,144.29
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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