BridgeCity Capital Provides $20M Loan For Development Site In East Williamsburg
FINANCED
$20,000,000
New York
See Similar DealsDevelopment Site
Financed 04/15/2021
FINANCED
BridgeCity Capital Provides $20M Loan For Development Site In East Williamsburg
66 Gerry Street, Brooklyn, NY, USA
See Similar DealsDevelopment Site
Financed 04/15/2021
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Loan
The mixed-use and development site located at 66 Gerry Street and 25 Bartlett Street in East Williamsburg has an associated loan amount of $20,000,000. The property presents opportunities for diverse usage, indicative of its mixed-use classification.
Summary of transaction details:
- Property Type: Mixed-use & Development Site
- Transaction Amount: $20,000,000
- Lender: BridgeCity Capital
- Landlord: Abraham Brach
Allan Lebovits and Louis Lebovits were involved in the transaction as its representatives, facilitating the loan arrangement for the involved parties in this deal.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$20,000,000.00
Monthly NOI$133,333.33
Monthly Debt Service$126,413.60
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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