Ponce Bank Provides $29M Construction Loan For Brooklyn Triangle Mixed-Use Project With Seven Stone Capital
FINANCED
$29,000,000
New York
See Similar DealsMixed-use55,000 SF
Financed 11/17/2025
FINANCED
Ponce Bank Provides $29M Construction Loan For Brooklyn Triangle Mixed-Use Project With Seven Stone Capital
Mixed-use55,000 SF
Financed 11/17/2025
Summary
Asset Type:Mixed-use
Price Per Square Foot:$527
Total Square Footage:55,000 SF
Transaction Type:Loan
The asset involved in this transaction is a mixed-use property located in the Brooklyn Triangle market, comprising a total square footage of 55,000. The asset contains 27 units, including 1 commercial unit and 26 residential units.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $29,000,000
- Lender: Ponce Bank
- Loan Type: Construction
- Loan Terms: 24 months
- Landlord's Representative: Meir Kessner & David Eisen - Seven Stone Capital
- Note: This is a high leverage 80% LTC construction loan for a Ground-Up Mixed-Use condo project.
Meir Kessner and David Eisen from Seven Stone Capital represent the landlord in this transaction, providing expertise in navigating the complexities of financing a construction loan dedicated to a mixed-use condo development project.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$29,000,000.00
Monthly NOI$193,333.33
Monthly Debt Service$183,299.73
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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