Updated Mar 11, 2025
Vision Development Secures $2M Mezzanine Loan For Brooklyn Property With Gideon Asset Management
705 Willoughby Avenue, Brooklyn, NY 11206
$2,000,000
$95/SF
Building Size
21,000 SF
Asset Type
Development Site
Closing
Feb 12, 2018
About this deal
AI
The property at 705-707 Willoughby Avenue, Brooklyn, NY, was involved in a mezzanine loan transaction on February 13, 2018. The loan, with a value of $2,000,000, was provided by Gideon Asset Management. The total building square footage, including the basement, is 21,000 sf.
Summary of transaction details
- Property Type: Mezzanine Loan
- Transaction Amount: $2,000,000
- Address: 705-707 Willoughby Avenue, Brooklyn, NY
Gideon Asset Management, represented by Gabriel Shehaber, Isaac Klein, and Josef Chehebar, acted as the lender in this deal. Boruch Mandel and Mark Rosenzweig of Eastern Equity Advisors served as the brokers during the transaction.
On the Map
$2,000,000
$95/SF
Development Site
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93