Equitas Capital Group Arranges $13.4M Loan For Mixed-Use Development On Broadway In Williamsburg
302 Broadway, Southside, Brooklyn, NY, USA
$13,400,000
$10,903/SF
Building Size
1,229 SF
Asset Type
Mixed-use
Closing
May 11, 2021
About this deal
AI
A new construction mixed-use development located at 302 Broadway in Williamsburg, Brooklyn, recently secured a loan of $13,400,000. The loan was arranged by Equitas Capital Group, represented by broker Alex Leykind. The loan terms include a one-year term with a one-year option, interest-only amortization, and a rate of 4.75%. The financing was obtained through conventional means, and the closing time frame was 45 days.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $13,400,000
- Date: 05/12/2021
- Address: 302 Broadway
- Market: Williamsburg
Equitas Capital Group, a leading financing firm, has been actively involved in new construction financing. They specialize in providing loans for new developments and bridge financing. If you require financing for your next new construction project, you can reach out to Equitas Capital Group at 646-637-7510.
Brooklyn 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
1.18%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93