Webster Bank Provides $27.9M Construction Loan For Development Site In Riverdale, Bronx
FINANCED
$27,944,003
New York
See Similar DealsDevelopment Site49,530 SF
Financed 10/12/2022
FINANCED
Webster Bank Provides $27.9M Construction Loan For Development Site In Riverdale, Bronx
3745 Riverdale Avenue, The Bronx, New York 10463, United States
See Similar DealsDevelopment Site49,530 SF
Financed 10/12/2022
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$564
Total Square Footage:49,530 SF
Transaction Type:Loan
3745 Riverdale Avenue, located in Riverdale, Bronx, was recently involved in a closed property transaction. This property is a development site with a building square footage (BSF) of 49,530. The transaction took place on October 12, 2022.
Summary of transation details:
- Property Type: Development Site
- Transaction Amount: $27,944,003
- Lender: Webster Bank
- Landlord: Stagg Group - Mark Stagg
- Loan Type: Construction loan
In this transaction, Webster Bank provided a construction loan of $27,944,003 to the buyer. The landlord, Stagg Group represented by Mark Stagg, was involved in the deal as well.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$27,944,003.00
Monthly NOI$186,293.35
Monthly Debt Service$176,625.11
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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