Updated Oct 28, 2024
Bank Hapoalim Provides $28.7M Loan For Boerum Hill Development Site
546 Pacific Street, Boerum Hill, Brooklyn, NY, USA
$28,696,595
$2,049/SF
Building Size
14,000 SF
Asset Type
Development Site
Closing
Apr 8, 2021
About this deal
AI
The development site located at 535, 537, and 546 Pacific Street in Boerum Hill has been involved in a recent loan transaction. The loan was provided by Bank Hapoalim to the landlord, Sterling Town Equities. The loan amount for this transaction was $28,696,595. The development site has a total square footage of 14,000.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $28,696,595
- Address: 535, 537 & 546 Pacific Street
- Market: Boerum Hill
The key parties involved in this transaction include Bank Hapoalim as the lender and Sterling Town Equities as the landlord. The loan provided by Bank Hapoalim will contribute to the development of the site located at 535, 537, and 546 Pacific Street in Boerum Hill.
On the Map
$28,696,595
$2,049/SF
Development Site
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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
0.55%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93