Joy Construction & Madd Equities Secures $414M Construction Loan For Mixed-Use Property In Inwood
FINANCED
$414,000,000
New York
See Similar DealsMixed-use
Financed 03/02/2023
FINANCED
Joy Construction & Madd Equities Secures $414M Construction Loan For Mixed-Use Property In Inwood
3875 9th Avenue, New York City, New York 10034, United States
See Similar DealsMixed-use
Financed 03/02/2023
Summary
NEW YORK
Asset Type:Mixed-use
Transaction Type:Loan
The mixed-use property located at 3875 Ninth Avenue in Inwood has been involved in a closed transaction. The transaction took place on 02/03/2023 and the loan amount for this deal was $414,000,000. The property is owned by Joy Construction, represented by Eli Weiss and Madd Equities. It is important to note that the loan type for this transaction is construction.
Summary of transation details
- Property Type: Mixed-Use
- Transaction Amount: $414,000,000
- Address: 3875 Ninth Avenue
- Market: Inwood
Eli Weiss and Madd Equities from Joy Construction played a significant role in this transaction as the landlords. They were responsible for representing the property and overseeing the deal.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$414,000,000.00
Monthly NOI$2,760,000.00
Monthly Debt Service$2,616,761.62
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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