Dime Community Bank Provides $16.5M Construction Loan For Mixed-Use Property In Borough Park
FINANCED
$16,500,000
New York
See Similar DealsMixed-use
Financed 02/28/2024
FINANCED
Dime Community Bank Provides $16.5M Construction Loan For Mixed-Use Property In Borough Park
3920 15th Avenue
See Similar DealsMixed-use
Financed 02/28/2024
Summary
NEW YORK
Asset Type:Mixed-use
Transaction Type:Loan
The mixed-use property located at 3920 15th Avenue in Borough Park, Brooklyn, was involved in a recent transaction. The property serves a variety of purposes and sits in a bustling market area.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $16,500,000
- Lender: Dime Community Bank
- Brokers: Abe Greenhut - GreenRock Funding LLC & Moshe Hirsch - The Capital H
- Loan Type: Construction
- Loan Terms: 18 Months
The deal was facilitated by brokers Abe Greenhut from GreenRock Funding LLC and Moshe Hirsch from The Capital H. These individuals played key roles in securing the construction loan for the property.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$16,500,000.00
Monthly NOI$110,000.00
Monthly Debt Service$104,291.22
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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