Updated Mar 11, 2025
BridgeCity Capital Provides $12M Construction Loan For Development Site On Glenwood Road, New York City
3308 Glenwood Road
$12,000,000
$467/SF
Building Size
25,672 SF
Asset Type
MultiFamily
Closing
Jan 19, 2023
About this deal
AI
A construction loan has been secured for a development site located at 3308 Glenwood Road in New York City. The site spans approximately 25,672 square feet and is situated in a prime location within the city.
Summary of transaction details
- Property Type: Development Site
- Loan Amount: $12,000,000
- Loan Type: Construction
- Loan Terms: 18 Months with a Loan-to-Cost (LTC) ratio of 75%
The lender for this project is BridgeCity Capital, a financing company actively involved in funding mixed-use, residential, industrial, and construction projects. The loan will support the development of the site at 3308 Glenwood Road. BridgeCity Capital offers its services in the Tri-State Area, South Florida, and other states across the country. For more information or loan inquiries, you can visit their website at www.bridgecityfunding.com or email Louis at [email protected].
Players
Market MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Browse New York multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.32%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93