Updated Nov 17, 2023
Barings Provides $11.5M Permanent Financing For Development Site On 437 Euclid Avenue, East New York
437 Euclid Avenue, Brooklyn, New York 11208, United States
$11,500,000
Building Size
—
Asset Type
Development Site
Closing
Oct 24, 2022
About this deal
AI
The development site located at 437 Euclid Avenue in East New York has been involved in a closed transaction. The loan for this property was provided by Barings, with Daron Tubian representing the lender. The loan amount for this permanent financing was $11,500,000.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $11,500,000
- Lender: Barings - Daron Tubian
In addition to the lender, the Lantern Organization, represented by Dan Kent, and Mega Contracting Group, represented by Hercules Argyriou, are the landlords involved in this deal. They play a significant role in the transaction of the development site at 437 Euclid Avenue.
Players
Brooklyn 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
1.38%
Cash-on-Cash
-0.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93