Madison Realty Capital Provides $50M Loan For Williamsburg Development Site
FINANCED
$50,000,000
New York
See Similar DealsDevelopment Site
Financed 05/22/2019
FINANCED
Madison Realty Capital Provides $50M Loan For Williamsburg Development Site
66 Gerry St, Brooklyn, NY 11206, USA
See Similar DealsDevelopment Site
Financed 05/22/2019
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Loan
The property involved in this transaction is a development site located at 58 and 66 Gerry Street and 25 and 33 Bartlett Street in Williamsburg, Brooklyn. The loan amount secured for this asset is $50,000,000.
Summary of transaction details:
- Property Type: Dev Site
- Transaction Amount: $50,000,000
- Market: Williamsburg, Brooklyn
- Lender: Madison Realty Capital
- Landlord: Abraham Brach
This deal features key individuals such as Josh Zegen, whose involvement is notable in relation to the transaction properties. His role is significant within the context of the secured loan and the entities involved.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$50,000,000.00
Monthly NOI$333,333.33
Monthly Debt Service$316,034.01
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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