Updated May 12, 2025
BridgeCity Capital Provides $20M Loan For Development Site In East Williamsburg
66 Gerry Street, Brooklyn, NY, USA
$20,000,000
Building Size
—
Asset Type
Development Site
Closing
Apr 14, 2021
About this deal
AI
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.
The development site loan at 66 Gerry Street, Brooklyn, NY, USA in New York, New York financed for $20M in 2021. 66 Gerry Street, Brooklyn, NY, USA is classified as Development Site on Traded. Named participants on the 66 Gerry Street, Brooklyn, NY, USA loan are Louis Lebovits, Abraham Brach. This page is the New York, New York file for the 66 Gerry Street, 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 66 Gerry Street, Brooklyn, NY, USA around 2021. Published consideration for 66 Gerry Street, Brooklyn, NY, USA is $20M, dated 2021. Cite this BridgeCity Capital Provides $20M Loan For Development Site In East Williamsburg loan when underwriting similar development site product around New York, New York.
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
Loading comparables…
Deal FAQ
Browse New York development site loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93