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Shaya Seidenfeld Secures $11.1M Construction Loan From Ponce Bank For Melrose Development
FINANCED
$13,000,000
New York
See Similar DealsDevelopment Site
Financed
FINANCED
Shaya Seidenfeld Secures $11.1M Construction Loan From Ponce Bank For Melrose Development
414 East 152nd Street Bronx, New York 10455, Usa
See Similar DealsDevelopment Site
Financed
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Loan
The property asset involved is a development site located at 414-416 East 152nd Street in the Melrose market of Bronx. The site encompasses a building square footage (BSF) of 40,453. A construction loan in the amount of $11,102,825 has been secured for this development project.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $11,102,825
- Lender: Ponce Bank
- Lender's Representative: Steven A. Tsavaris
- Landlord: Shaya Seidenfeld
- Loan Type: Construction
Shaya Seidenfeld is the key individual behind the secured loan for the development project, having successfully negotiated a new construction loan of $13 million from Ponce Bank for the initiative at this specific address in Melrose, Bronx.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$13,000,000.00
Monthly NOI$86,666.67
Monthly Debt Service$82,168.84
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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