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Watermark Capital Group Secures $25 Million Loan From Oak Funding For Mixed-Use Project In Bronx
FINANCED
$25,000,000
New York
See Similar DealsMixed-use
Financed 07/17/2025
FINANCED
Watermark Capital Group Secures $25 Million Loan From Oak Funding For Mixed-Use Project In Bronx
1723 Boston Road
See Similar DealsMixed-use
Financed 07/17/2025
Summary
NEW YORK
Asset Type:Mixed-use
Transaction Type:Loan
The asset involved in this transaction is a mixed-use property situated at 1723 Boston Road in the East Morrisania neighborhood of the Bronx. This project encompasses 99 residential units and is classified as a construction type property, with a significant loan amount secured for its development.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $25,000,000
- Lender: Oak Funding
- Landlord: Wolfe Landau - Watermark Capital Group
- Loan Type: Construction
- Date of Loan: 07/17/2025
The key individuals involved in this transaction include Wolfe Landau, representing Watermark Capital Group, who secured the construction loan, and Oak Funding as the lender facilitating this financial arrangement for the mixed-use project.
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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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