Updated Oct 29, 2024
Mercury Capital Markets Represents $9M Loan For Development Site In Brooklyn
996 Manhattan Avenue
$9,000,000
Building Size
—
Asset Type
Development Site
Closing
Sep 24, 2019
About this deal
AI
A development site located at 996 Manhattan Avenue in Brooklyn's Greenpoint neighborhood has recently transacted. The property is situated in a bustling market and offers potential for future development. The transaction involved a loan amount of $9,000,000 provided by Urban Standard Capital.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $9,000,000
- Address: 996 Manhattan Avenue
- Market: Brooklyn, Greenpoint
Leading the deal was Eric Gleitman from Mercury Capital Markets, representing the buyer or seller. Additionally, Seth Weissman, Charlie Brosens, and Lee Cohen of BHLD Capital played significant roles in this transaction. However, the specific roles and agencies of Weissman, Brosens, and Cohen were not provided in the given information.
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
1.76%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93