Yanni Kouzilos, Doug Romero & Sandra Viera Secure $55M Construction Loan In Downtown Brooklyn
150 Lawrence Street
$55,000,000
$550/SF
Building Size
100,000 SF
Asset Type
Mixed-use
Closing
Dec 7, 2023
AI
The closed transaction involves a mixed-use property located at 150 Lawrence Street in Downtown Brooklyn. The property is a 25-story building that consists of 110 residential units and 1 commercial unit, covering a total area of 100,000 square feet.
Summary of Transaction Details
- Property Type: Mixed-use (25 Story Building; 110 residential Units & 1 Commercial) ~ SF: 100,000
- Loan Amount: $55,000,000
- Loan Type: Construction
- Loan Terms: 30 months fixed rate
- Lender: Ponce Bank - Yanni Kouzilos, Doug Romero & Sandra Viera
- Landlord: Solomon Schwimmer
- Broker: Greenrock Funding - Abe Greenhut
The loan amount for this transaction is $55,000,000, and it is of construction type. The loan has a fixed rate and is set for a term of 30 months. The lender involved in this deal is Ponce Bank, represented by Yanni Kouzilos, Doug Romero, and Sandra Viera. The landlord for the property is Solomon Schwimmer. The broker facilitating the transaction is Abe Greenhut from Greenrock Funding.
Players
Market Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.29%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93