GreenRock Funding LLC Provides $16M Construction Loan For Mixed-Use Property In Williamsburg, Brooklyn
FINANCED
New York
See Similar DealsMixed-use25,834 SF
Financed 03/23/2023
FINANCED
GreenRock Funding LLC Provides $16M Construction Loan For Mixed-Use Property In Williamsburg, Brooklyn
65 Eckford Street
See Similar DealsMixed-use25,834 SF
Financed 03/23/2023
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$619
Total Square Footage:25,834 SF
Transaction Type:Loan
The mixed-use property located at 65 Eckford Street in Williamsburg, Brooklyn has recently undergone a closed transaction. The property spans across 25,834 square feet and is owned by Abraham Posner. A construction loan of $16,000,000 was secured for this property.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $16,000,000
- Address: 65 Eckford Street, Williamsburg, Brooklyn
- Market: Williamsburg, Brooklyn
- SF: 25,834
- Landlord: Abraham Posner
- Broker: Elya Kahn - GreenRock Funding LLC
- Loan Type: Construction
- Loan Terms: 2 years IO fixed rate
GreenRock Funding LLC, represented by Elya Kahn, acted as the broker in this transaction. The loan secured for this property is a construction loan with a term of 2 years and an interest-only fixed rate.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$16,000,000.00
Monthly NOI$106,666.67
Monthly Debt Service$101,130.88
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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