Shaya Seidenfeld Secures $11.1M Construction Loan From Ponce Bank For Melrose Development
414 East 152nd Street Bronx, New York 10455, Usa
$13,000,000
Building Size
—
Asset Type
Development Site
Closing
Jul 17, 2023
AI
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
Cleveland Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.22%
Cash-on-Cash
-0.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93