Realty Capital Finance Provides $5.5M Bridge Loan For FiDi Development Site
FINANCED
$5,500,000
New York
See Similar DealsDevelopment Site50,000 SF
Financed 08/12/2021
FINANCED
Realty Capital Finance Provides $5.5M Bridge Loan For FiDi Development Site
Financial District, Manhattan, New York, NY, USA
See Similar DealsDevelopment Site50,000 SF
Financed 08/12/2021
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$110
Total Square Footage:50,000 SF
Transaction Type:Loan
A development site located in FiDi has recently been involved in a closed transaction. The property has a buildable square footage (BSF) of 50,000, indicating its potential for development.
Summary of transaction details
- Property Type: Development Site
- Transaction Date: 08/12/2021
- Market: FiDi
- Lender: Realty Capital Finance
- Lender Representatives: Samuel Kwadrat, Mark Safrin & Heshy Safrin
- Loan Amount: $5,500,000
- Loan Type: Bridge Loan
- Loan Terms: 12 Months
The loan for this transaction was provided by Realty Capital Finance, represented by Samuel Kwadrat, Mark Safrin, and Heshy Safrin.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$5,500,000.00
Monthly NOI$36,666.67
Monthly Debt Service$34,763.74
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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