Developer Jacob Schwimmer Secures $90.5M Construction Loan For Industrial Property In Mott Haven, Bronx
FINANCED
$90,500,000
New York
See Similar DealsIndustrial54,756 SF
Financed 08/19/2022
FINANCED
Developer Jacob Schwimmer Secures $90.5M Construction Loan For Industrial Property In Mott Haven, Bronx
40 Bruckner Boulevard, The Bronx, New York 10454, United States
See Similar DealsIndustrial54,756 SF
Financed 08/19/2022
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$1,652
Total Square Footage:54,756 SF
Transaction Type:Loan
The industrial property located at 40 Bruckner Boulevard in the Mott Haven neighborhood of the Bronx has recently undergone a closed transaction. The property spans a total area of 54,756 square feet and is situated in a bustling market.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $90,500,000
- Loan Type: Construction
- Lender: Valley National Bank
- Landlord: Jacob Schwimmer
The key individuals involved in the deal include Jacob Schwimmer as the landlord and Valley National Bank as the lender. Valley National Bank provided a loan amount of $90,500,000 for the construction of the property. It is worth noting that no additional information about the transaction was provided.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$90,500,000.00
Monthly NOI$603,333.33
Monthly Debt Service$572,021.56
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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