Mercury Capital Markets Represents $9M Loan For Development Site In Brooklyn
FINANCED
$9,000,000
New York
See Similar DealsDevelopment Site
Financed 09/24/2019
FINANCED
Mercury Capital Markets Represents $9M Loan For Development Site In Brooklyn
996 Manhattan Avenue
See Similar DealsDevelopment Site
Financed 09/24/2019
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Loan
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
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$9,000,000.00
Monthly NOI$60,000.00
Monthly Debt Service$56,886.12
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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