Updated Sep 5, 2024
Meridian Capital Group Secures $20M Acquisition Loan For Development Site In Gowanus, Brooklyn
450 Union Street
$20,000,000
Building Size
—
Asset Type
Development Site
Closing
Sep 15, 2022
About this deal
AI
The development site located at 450 Union Street in Gowanus, Brooklyn has recently undergone a closed transaction. The property, which is a development site, spans a buildable square footage (BSF) of 142,500. The deal was facilitated by brokers Adam Hakim and James Murad from Meridian Capital Group.
Summary of Transaction Details
- Property Type: Development Site
- Transaction Amount: $20,000,000
- Address: 450 Union Street
- Market: Gowanus, Brooklyn
- BSF: 142,500
Adam Hakim and James Murad, representing Meridian Capital Group, played a pivotal role in the acquisition loan transaction, facilitating a loan amount of $20,000,000 for the development site at 450 Union Street in Gowanus, Brooklyn.
Players
Jacksonville Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
Loading comparables…
Deal FAQ
Browse Jacksonville development site loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93