David Bollag & James Darling Of Meridian Capital Group Secures $12.55M Construction Loan In Gowanus Brooklyn
FINANCED
$12,550,000
New York
See Similar DealsDevelopment Site
Financed 12/15/2025
FINANCED
David Bollag & James Darling Of Meridian Capital Group Secures $12.55M Construction Loan In Gowanus Brooklyn
Development Site
Financed 12/15/2025
Summary
Asset Type:Development Site
Transaction Type:Loan
The asset involved in this transaction is a development site located in Gowanus, Brooklyn. The loan amount secured for this property is $12,550,000, classified as a construction loan with a 5-year term, 70% loan-to-cost (LTC), and SOFR 300.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $12,550,000
- Loan Type: Construction
- Loan Term: 5 Year Term
- Loan-to-Cost: 70%
- SOFR: 300
- Address: Gowanus, Brooklyn
- Market: Brooklyn
The deal was facilitated by brokers David Bollag and James Darling from Meridian Capital Group, representing the financing efforts associated with this development project.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$12,550,000.00
Monthly NOI$83,666.67
Monthly Debt Service$79,324.54
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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