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Bayport Funding Provides $4M Loan For Development Site In Ozone Park, Queens
FINANCED
$4,000,000
New York
See Similar DealsDevelopment Site
Financed 08/29/2023
FINANCED
Bayport Funding Provides $4M Loan For Development Site In Ozone Park, Queens
Development Site
Financed 08/29/2023
Summary
Asset Type:Development Site
Transaction Type:Loan
A $4 million acquisition and construction loan has been granted by Bayport Funding to aid the development of a four-story mixed-use building in Ozone Park, Queens. The loan will support the acquisition and construction of the property, allowing for the realization of this development project.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $4,000,000
- Lender: Bayport Funding - Marcia Kaufman
Bayport Funding, represented by Marcia Kaufman, has provided the necessary financial support for the development of the four-story mixed-use building in Ozone Park, Queens. This loan will facilitate the acquisition and construction process, allowing for the transformation of the property into a vibrant and useful development for the local community.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$4,000,000.00
Monthly NOI$26,666.67
Monthly Debt Service$25,282.72
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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