Rybak Development Secures $7M Bridge Loan For Development Site In Manhattan, NY
FINANCED
$7,000,000
New York
See Similar DealsDevelopment Site
Financed 12/21/2023
FINANCED
Rybak Development Secures $7M Bridge Loan For Development Site In Manhattan, NY
Development Site
Financed 12/21/2023
Summary
Asset Type:Development Site
Transaction Type:Loan
Rybak Development has secured a $7,000,000 bridge loan from Maxim Capital Group for the development site located at 502 East 81st Street in Manhattan, NY. The property is a development site with a buildable square footage (BSF) of 30,000.
Summary of Transaction Details
- Property Type: Development Site
- Transaction Amount: $7,000,000
- Address: 502 East 81st Street, Manhattan, NY
- Market: Manhattan, NY
- Landlord: Rybak Development
- Lender: Maxim Capital Group
- Loan Type: Bridge
The deal involves Rybak Development as the landlord and Maxim Capital Group as the lender. Adam Glick, Sergey Rybak, Jason Bordenick, Andrew Shavrin, and Billy Haber were involved in the transaction as reflected in the provided image.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$7,000,000.00
Monthly NOI$46,666.67
Monthly Debt Service$44,244.76
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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