Updated Oct 28, 2024
Joint Capital Development Acquires Development Site In Flatbush For $4.2M Loan From GIT Funding
460 East 29th Street, New York City, New York 10016, United States
$4,200,000
$477/SF
Building Size
8,800 SF
Asset Type
Development Site
Closing
Dec 20, 2021
About this deal
AI
A development site located at 460-462 East 29 Street in the Flatbush market has recently been involved in a closed property transaction. The development site has a buildable square footage (BSF) of 8,800 and is classified as a Development Site.
Summary of transation details:
- Property Type: Development Site
- Transaction Amount: $4,200,000
- Lender: GIT Funding
- Landlord: Joint Capital Development - Lex Lopez
- Loan Type: Construction
The loan, amounting to $4,200,000, was provided by GIT Funding for the development site located at 460-462 East 29 Street in Flatbush. Joint Capital Development, represented by Lex Lopez, acts as the landlord in this transaction.
Note: No additional information is available for this closed property transaction.
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
Loading comparables…
Deal FAQ
Browse New York development site loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.78%
Cash-on-Cash
-1.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93