Updated Nov 17, 2023
Development Site In Borough Park Secures $16M Construction Loan
5914 Bay Parkway,Borough Park,New York
$16,000,000
Building Size
—
Asset Type
Development Site
Closing
Feb 2, 2023
About this deal
AI
A development site located at 5914 Bay Parkway in Borough Park has been involved in a recent transaction. The loan for this property was provided by David Weisz, amounting to $16,000,000. The loan was specifically for construction purposes.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $16,000,000
- Address: 5914 Bay Parkway
- Market: Borough Park
The lender, David Weisz, facilitated the loan for the development site. Republic Bank, represented by Jeffrey S. Wall, served as the landlord in this transaction.
Players
Brooklyn Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.99%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93