Artifact Real Estate Development Secures $36.75M Construction Loan From Bravo Property Trust In New York
1861 Amsterdam Avenue
$36,750,000
$496/SF
Building Size
73,996 SF
Asset Type
Mixed-use
Closing
Mar 14, 2025
About this deal
AI
The property asset involved in this transaction is a mixed-use building located at 1861 Amsterdam Avenue in New York. A construction loan of $36,750,000.00 has been secured to facilitate the development of this asset.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $36,750,000.00
- Lender: Bravo Property Trust / Bravo Capital
- Landlord: Artifact Real Estate Development
- Loan Type: Construction
- Loan Date: 03/14/2025
The deal involves Bravo Property Trust and Bravo Capital as the lender, providing the necessary financial backing for the construction loan. The landlord associated with the project is Artifact Real Estate Development, managing the property at the specified address.
On the Map
$36,750,000
$496/SF
Mixed-use
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Players
New York 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
0.43%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93