Bank Hapoalim Provides $19.6M Loan For Gowanus Development Site
FINANCED
$19,600,000
+ 1
New York
See Similar DealsDevelopment Site31,157 SF
Financed 06/19/2020
FINANCED
Bank Hapoalim Provides $19.6M Loan For Gowanus Development Site
450 Warren St, Brooklyn, NY 11217, USA
See Similar DealsDevelopment Site31,157 SF
Financed 06/19/2020
+ 1
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$629
Total Square Footage:31,157 SF
Transaction Type:Loan
The development site located at 450 Warren Street in Gowanus, Boerum Hill has been involved in a closed property transaction. The property spans a total area of 27,142 square feet, including an additional 4,015 square feet of on-grade commercial space. The deal entails the transfer of ownership from the landlord, Tankhouse represented by Sam Alison-Mayne and Sebastian Mendez, to undisclosed buyers.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $19,600,000
- Date: June 19, 2020
- Market: Gowanus, Boerum Hill
- Lender: Bank Hapoalim
The loan provided by Bank Hapoalim amounts to $19,600,000 and has a term of 30 months, with full-term interest-only payments. The property comprises a total of 18 units and is expected to undergo development in the near future.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$19,600,000.00
Monthly NOI$130,666.67
Monthly Debt Service$123,885.33
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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