Updated Dec 11, 2024
Max Ralby Of HKS Real Estate Advisors Facilitates $4.18M Loan For Development Site In Brooklyn
424 East 9th Street, Brooklyn, New York 11218, United States
$4,180,000
$109/SF
Building Size
38,100 SF
Asset Type
Development Site
Closing
Jan 27, 2022
About this deal
AI
A development site located at 424, 428, and 432 East 9th St. in Brooklyn has been acquired through a loan. The site spans an area of 38,100 square feet and falls under the asset type of a development site. The transaction took place on January 28, 2022.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $4,180,000
- Market: Brooklyn
- Built Square Feet: 38,100
The loan for the acquisition of this development site was provided by Maxim Capital, represented by Adam Glick and Josh Greene. HKS Real Estate Advisors, represented by Max Ralby, facilitated the transaction as the broker.
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
3.79%
Cash-on-Cash
-1.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93