Updated Oct 12, 2026
Realty Capital Finance Provides $5.5M Bridge Loan For FiDi Development Site
Financial District, Manhattan, New York, NY, USA
$5,500,000
$110/SF
Building Size
50,000 SF
Asset Type
Development Site
Closing
Aug 11, 2021
About this deal
AI
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.
On the Map
$5,500,000
$110/SF
Development Site
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.88%
Cash-on-Cash
-0.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93