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Goodman Capital Provides $4.53 Million Loan To Landlord Frank Rio For Development Site In Brooklyn

Property Image
FINANCED
$4,530,000

New York

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Development Site7,284 SF
Financed 02/28/2025
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Property Image
FINANCED

Goodman Capital Provides $4.53 Million Loan To Landlord Frank Rio For Development Site In Brooklyn

52 4th Avenue

See Similar Deals
Development Site7,284 SF
Financed 02/28/2025
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$621
Total Square Footage:7,284 SF
Transaction Type:Loan

The property asset involved is a development site located at 52-4th Avenue in Brooklyn. The site encompasses a building square footage of 61,898 and total square footage of 7,284. The loan amount provided for this asset is $4,530,000 with a loan type classified as a note on note.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $4,530,000
  • Address: 52-4th Avenue
  • Market: Brooklyn
  • Building Square Footage: 61,898
  • Total Square Footage: 7,284
  • Lender: Goodman Capital
  • Lender's Representative: Eric Goodman
  • Landlord: Frank Rio

The deal involves Goodman Capital, represented by Eric Goodman, who facilitated the financing for this development site. The transaction's landlord is Frank Rio, who plays a key role in the leasing or management of the property.

Players

Goodman Capital
Goodman Capital
LENDER
Goodman Capital
Goodman Capital
LENDER

Details

FINANCED
IMAGE: Eric Goodman DATE: 02/28/2025 ADDRESS: 52-4th Avenue MARKET: Brooklyn ASSET TYPE: Development Site ~ BSF: 61,898 ~ SF: 7,284 LENDER: Goodman Capital - Eric Goodman LANDLORD: Frank Rio LOAN AMOUNT: $4,530,000 LOAN TYPE: Note on note NOTE FROM LENDER: For more information about Goodman Capital and their tailored financing solutions please contact: [email protected]

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$4,530,000.00

Monthly NOI$30,200.00
Monthly Debt Service$28,632.68
Change in Cash Flow$0.00
Refinance Proceeds$0.00