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New Destiny Housing Secures $48.9 Million Construction Loan From Capital One For Bronx Development
FINANCED
$48,900,000
New York
See Similar DealsIndustrial10,000 SF
Financed 05/16/2025
FINANCED
New Destiny Housing Secures $48.9 Million Construction Loan From Capital One For Bronx Development
1139 Webster Avenue
See Similar DealsIndustrial10,000 SF
Financed 05/16/2025
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$4,890
Total Square Footage:10,000 SF
Transaction Type:Loan
The property at 1139 Webster Avenue is an industrial asset located in Concourse Village, Bronx. It includes a building with a total square footage of 10,000 and a building size factor of 50,000.
Summary of transation details:
- Property Type: Industrial
- Transaction Amount: $48,900,000
- Lender: Capital One
- Landlord: Nicole Branca - New Destiny Housing
- Loan Type: Construction
New Destiny Housing has secured a significant construction loan from Capital One and New York State Homeless Housing and Assistance Corporation. This financing will facilitate the construction of a residential building comprising 72 units and a total area of 59,119 square feet at the specified address.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$48,900,000.00
Monthly NOI$326,000.00
Monthly Debt Service$309,081.26
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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