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Aron Schwartz Secures $33M Construction Loan For Vermont Street Development Site
FINANCED
$33,000,000
New York
See Similar DealsDevelopment Site
Financed 03/25/2024
FINANCED
Aron Schwartz Secures $33M Construction Loan For Vermont Street Development Site
96 Vermont Street
See Similar DealsDevelopment Site
Financed 03/25/2024
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Loan
A new construction loan valued at $33 million was secured by Aron Schwartz for a 110-unit residential project located at 96 Vermont Street (also known as 2667 Fulton Street) in Cypress Hills, Brooklyn. The loan was facilitated by Haim Dadi from Golden Bridge Funding.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $33,000,000
- Market: Cypress Hills, Brooklyn
- Asset Type: Development Site
- BSF: 77,469
- Lender: Haim Dadi - Golden Bridge Funding
- Landlord: Aron Schwartz
- Loan Type: Construction
The construction loan for the residential project at 96 Vermont Street was secured through Golden Bridge Funding, with the facilitation of Haim Dadi. Aron Schwartz stands as the landlord for this development site, showcasing his commitment to furthering real estate projects in Cypress Hills, Brooklyn.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$33,000,000.00
Monthly NOI$220,000.00
Monthly Debt Service$208,582.45
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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