Horizon Group Secures $25M Construction Loan For Industrial Property On Weirfield St
FINANCED
$25,000,000
New York
See Similar DealsIndustrial43,260 SF
Financed 08/08/2022
FINANCED
Horizon Group Secures $25M Construction Loan For Industrial Property On Weirfield St
378 Weirfield Street, Brooklyn, New York 11237, United States
See Similar DealsIndustrial43,260 SF
Financed 08/08/2022
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$577
Total Square Footage:43,260 SF
Transaction Type:Loan
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $25,000,000
- Date: 08/08/2022
- Address: 378 Weirfield Street, Bushwick, Brooklyn
- Market: Bushwick, Brooklyn
- Square Footage: 43,260
- Units: 66
Bank Hapoalim provided a construction loan of $25,000,000 for the property located at 378 Weirfield Street in Bushwick, Brooklyn. The asset is an industrial property with a total square footage of 43,260 and consists of 66 units. The loan was obtained on 08/08/2022.
The landlord of the property is Horizon Group, represented by David Marom.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$25,000,000.00
Monthly NOI$166,666.67
Monthly Debt Service$158,017.01
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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