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Juda Lefkowitz Secures $16.5M Construction Loan From Dime Community Bank
FINANCED
$16,500,000
New York
See Similar DealsDevelopment Site
Financed 02/28/2024
FINANCED
Juda Lefkowitz Secures $16.5M Construction Loan From Dime Community Bank
3914 15th Avenue
See Similar DealsDevelopment Site
Financed 02/28/2024
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Loan
Juda Lefkowitz secured a $16.5 million new construction loan from Dime Community Bank for a 42-unit development at 3914 15th Avenue in Borough Park, Brooklyn. The development site spans 45,246 square feet and is designated for the construction of a residential complex comprising 42 units.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $16,500,000
- Address: 3914 15th Avenue
- Market: Borough Park, Brooklyn
- Lender: Dime Community Bank
- Landlord: Juda Lefkowitz
The $16.5 million construction loan was facilitated by Dime Community Bank for the development of a 42-unit residential complex on the property located at 3914 15th Avenue in Borough Park, Brooklyn. Juda Lefkowitz, the landlord and recipient of the loan, will oversee the construction of the project.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$16,500,000.00
Monthly NOI$110,000.00
Monthly Debt Service$104,291.22
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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