New York City Housing Development Corporation Provides $135.3M Loan For Development Site In Greenpoint
35 Commercial Street, Greenpoint, Brooklyn, NY, USA
$135,293,079
$3,033/SF
Building Size
44,599 SF
Asset Type
Development Site
Closing
Jun 23, 2021
AI
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.
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
0.12%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93