Valley National Bank Provides $18.85M Loan For Development Site At 150 Lawrence Street, New York City
150 Lawrence Street
$18,850,000
$188/SF
Building Size
100,000 SF
Asset Type
Mixed-use
Closing
Feb 27, 2023
About this deal
AI
A development site located at 150 Lawrence Street in New York City has been involved in a recent loan transaction. The property spans approximately 19,437 square feet and has been acquired through an acquisition loan.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $18,850,000
- Market: New York City
- Lender: Valley National Bank - Roiy Schneerson
- Landlord: Solomon Schwimmer
Valley National Bank, represented by Roiy Schneerson, provided a loan amount of $18,850,000 for the acquisition of the development site located at 150 Lawrence Street. Solomon Schwimmer is the landlord involved in the transaction.
On the Map
$18,850,000
$188/SF
Mixed-use
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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
0.84%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93