Updated Dec 21, 2023
BridgeCity Funding Provides $4.7M Loan For Development Site In Brooklyn, Williamsburg
99 N 4th St, Brooklyn, NY 11249, USA
$4,700,000
$723/SF
Building Size
6,500 SF
Asset Type
Development Site
Closing
Jun 27, 2019
About this deal
AI
Located at 99 North 4th Street in Brooklyn's Williamsburg neighborhood, this development site recently underwent a closed property transaction. The property spans 6,500 square feet and has been acquired for a loan amount of $4,700,000 provided by BridgeCity Funding.
Summary of Transaction Details:
- Property Type: Development Site
- Transaction Amount: $4,700,000
- Square Footage: 6,500
- Address: 99 North 4th Street
- Market: Brooklyn, Williamsburg
The landlord for this development site is Joel Schwartz. The deal was facilitated with the involvement of Moishe Loketch, Allan Lebovits, and Pinny Loketch. These individuals, who represent their respective agencies, played key roles in the successful completion of this transaction.
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.38%
Cash-on-Cash
-0.96%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93