Updated Oct 28, 2024
Bank Leumi Provides $41.76M Loan For Development Site In Williamsburg
426 Rodney Street, Williamsburg, Brooklyn, NY, USA
$41,760,000
Building Size
—
Asset Type
Development Site
Closing
Jul 7, 2021
About this deal
AI
The development site located at 426 Rodney Street, 428 Rodney Street, and 118 Hope Street in Williamsburg has undergone a recent transaction. The property, owned by Clipper Equity, was involved in a loan deal facilitated by Bank Leumi. The loan amount for this transaction was $41,760,000.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $41,760,000
- Lender: Bank Leumi
- Landlord: Clipper Equity
- Market: Williamsburg
David Bistricer from Clipper Equity represented the landlord in this deal.
The development site loan at 426 Rodney Street, Williamsburg, Brooklyn, NY, USA in New York, New York financed for $41.8M in 2021. 426 Rodney Street, Williamsburg, Brooklyn, NY, USA is classified as Development Site on Traded. This page is the New York, New York file for the 426 Rodney Street, Williamsburg, Brooklyn, NY, USA development site financed: pricing, party profiles, and other closed development site comps from the same New York sit in the Market section below. Filter that New York development site set by closing date to see what else financed near 426 Rodney Street, Williamsburg, Brooklyn, NY, USA around 2021. Published consideration for 426 Rodney Street, Williamsburg, Brooklyn, NY, USA is $41.8M, dated 2021. Cite this Bank Leumi Provides $41.76M Loan For Development Site In Williamsburg loan when underwriting similar development site product around New York, New York.
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.38%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93