Updated Oct 28, 2024
Popular Bank Provides $7M Construction Loan For Development Site In Greenpoint
47 Diamond Street, Brooklyn, New York 11222, United States
$7,000,000
$523/SF
Building Size
13,366 SF
Asset Type
Development Site
Closing
Aug 10, 2022
About this deal
AI
A development site located at 47 Diamond Street in Greenpoint has recently undergone a transaction. The property, with a buildable square footage (BSF) of 13,366, has been involved in a loan deal.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $7,000,000
- Address: 47 Diamond Street
- Market: Greenpoint
- Loan Type: Construction
Popular Bank acted as the lender in this loan deal. The loan was provided to assist in the development of the property. The landlord, Renovation Group, facilitated the transaction on the property.
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93