Webster Bank Provides $27.9M Construction Loan For Development Site In Riverdale, Bronx
3745 Riverdale Avenue, The Bronx, New York 10463, United States
$27,944,003
$564/SF
Building Size
49,530 SF
Asset Type
Development Site
Closing
Oct 11, 2022
AI
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.
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
0.57%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93