Innovo Property Group Secures $43.4M Construction Loan For Industrial Property In Hunts Point
FINANCED
$43,400,000
New York
See Similar DealsIndustrial58 SF
Financed 03/08/2022
FINANCED
Innovo Property Group Secures $43.4M Construction Loan For Industrial Property In Hunts Point
1100 Leggett Avenue, The Bronx, New York 10474, United States
See Similar DealsIndustrial58 SF
Financed 03/08/2022
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$748,275
Total Square Footage:58 SF
Transaction Type:Loan
An industrial property located at 1100 Leggett Avenue in Hunts Point has been involved in a loan transaction. The property spans 58,950 square feet and is classified as an industrial asset.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $43,400,000
- Address: 1100 Leggett Avenue
- Market: Hunts Point
- Loan Type: Construction
The loan for this transaction was provided by Innovo Property Group, with Andrew Chung acting as the representative. The lender, PCCP, was represented by Brian Haber. The brokers involved in the deal were Chris Peck and Pete Rotchford from JLL.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$43,400,000.00
Monthly NOI$289,333.33
Monthly Debt Service$274,317.52
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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