Updated Dec 12, 2025
Levon Capital Provides $84M Acquisition Loan To David Tabak For Development Site In Brooklyn
563 Sackett Street
$84,000,000
Building Size
—
Asset Type
Development Site
Closing
Oct 30, 2025
About this deal
AI
The property asset involved in this transaction is a development site located at 563 Sackett Street in Brooklyn. It has an approximate building square footage of 230,000. The loan amount for this acquisition is $84,000,000, with a loan term of 3 years.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $84,000,000
- Loan Type: Acquisition
- Loan Terms: 3 years
- Lender: Levon Capital
- Landlord: David Tabak
- Market: Brooklyn
The key individuals involved in this transaction include David Tabak, acting as the landlord, and Levon Capital, serving as the lender for the acquisition loan.
On the Map
$84,000,000
Development Site
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Players
Brooklyn 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
0.19%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93