Updated Dec 21, 2023
The Bank Of Princeton Provides $10.6M Loan For Development Site In Flatbush
623 Avenue H, Brooklyn, NY, USA
$10,590,000
$2,005/SF
Building Size
5,280 SF
Asset Type
Development Site
Closing
Feb 16, 2021
About this deal
AI
A development site located at 623 Avenue H in Flatbush has been involved in a recent loan transaction. The loan, provided by The Bank Of Princeton, amounted to $10,590,000. The property consists of 30 units.
Summary of transaction details
- Property Type: Development site
- Transaction Amount: $10,590,000
- Address: 623 Avenue H, Flatbush
- Market: Flatbush
- Units: 30
The landlord of the development site is Yevgeniy Lvovskiy.
The development site loan at 623 Avenue H, Brooklyn, NY, USA in New York, New York financed for $10.6M in 2021. Reported inventory is 5,280 square feet across 28 units, or about 2K per square foot. This page is the New York, New York file for the 623 Avenue H, Brooklyn, NY, USA development site financed: pricing, party profiles, and other closed development site comps from the same New York sit in the Market section below. Filter that New York development site set by closing date to see what else financed near 623 Avenue H, Brooklyn, NY, USA around 2021. Published consideration for 623 Avenue H, Brooklyn, NY, USA is $10.6M, dated 2021. Cite this The Bank Of Princeton Provides $10.6M Loan For Development Site In Flatbush loan when underwriting similar development site product around New York, New York.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.50%
Cash-on-Cash
-0.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93