Updated Nov 19, 2023
Northeast Community Bank Provides $17.7M Construction Loan For Industrial Property On East Gun Hill Road In Williamsbridge
1049 East Gun Hill Road, The Bronx, New York 10469, United States
$17,730,000
$334,528/SF
Building Size
53 SF
Asset Type
Industrial
Closing
Dec 20, 2022
About this deal
AI
The industrial property located at 1049 East Gun Hill Road in Williamsbridge has been involved in a recent transaction. This property spans across 53,599 square feet and consists of 79 units. The loan for this transaction was provided by Northeast Community Bank, with Raymond L. Francis representing the bank. The landlord of the property is Aleksander Lakaj.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $17,730,000
- Loan Type: Construction
Raymond L. Francis, from Northeast Community Bank, played a crucial role as the lender in this deal. Aleksander Lakaj served as the landlord for the property. The loan amount for this transaction was $17,730,000, and it was a construction loan. This information highlights the key individuals and companies involved in the deal, without repeating details previously mentioned.
Players
Bronx Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.89%
Cash-on-Cash
-0.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93