Luis Lebovits & Moishe Loketch Secure $13.2 Million Construction Loan From ICross Capital In Brooklyn
FINANCED
$13,200,000
New York
See Similar DealsMixed-use17,500 SF
Financed 01/15/2025
FINANCED
Luis Lebovits & Moishe Loketch Secure $13.2 Million Construction Loan From ICross Capital In Brooklyn
817 Classon Avenue
See Similar DealsMixed-use17,500 SF
Financed 01/15/2025
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$754
Total Square Footage:17,500 SF
Transaction Type:Loan
The property asset involved in this transaction is a mixed-use building located at 817 Classon Avenue in Brooklyn. It encompasses a total square footage of 17,500, highlighting its capacity for various uses within the mixed-use designation.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $13,200,000
- Lender: iCross Capital
- Landlord: Luis Lebovits & Moishe Loketch
- Broker: Morris Betesh - Arrow Real Estate Advisors
- Loan Type: Construction
The deal involves key individuals such as Luis Lebovits and Moishe Loketch, who are acting as landlords. The brokerage representation is provided by Morris Betesh from Arrow Real Estate Advisors, ensuring professional oversight in the transaction process.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$13,200,000.00
Monthly NOI$88,000.00
Monthly Debt Service$83,432.98
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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