Updated Dec 4, 2024
Aron Schwartz Secures $33M Construction Loan For Vermont Street Development Site
96 Vermont Street
$33,000,000
Units
110
Asset Type
Development Site
Closing
Mar 25, 2024
About this deal
AI
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.
On the Map
$33,000,000
Development Site
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Players
Brooklyn Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.48%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93