Artifact Real Estate Development Secures $36.75M Construction Loan From Bravo Property Trust In New York
FINANCED
$36,750,000
New York
See Similar DealsMixed-use73,996 SF
Financed 03/14/2025
FINANCED
Artifact Real Estate Development Secures $36.75M Construction Loan From Bravo Property Trust In New York
1861 Amsterdam Avenue
See Similar DealsMixed-use73,996 SF
Financed 03/14/2025
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$496
Total Square Footage:73,996 SF
Transaction Type:Loan
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.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$36,750,000.00
Monthly NOI$245,000.00
Monthly Debt Service$232,285.00
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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