Pacific Western Bank And PCCP Provide $109M Construction Loan For Multifamily Building On Long Island
FINANCED
$109,000,000
+ 1
New York
See Similar DealsMultiFamily27,640 SF
Financed 05/12/2022
FINANCED
Pacific Western Bank And PCCP Provide $109M Construction Loan For Multifamily Building On Long Island
47 Broadway, Queens, New York 11106, United States
See Similar DealsMultiFamily27,640 SF
Financed 05/12/2022
+ 1
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$3,943
Total Square Footage:27,640 SF
Transaction Type:Loan
47 Broadway in Long Island has been involved in a closed transaction. The property is a multifamily asset.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $109,000,000
- Market: Long Island
- Address: 47 Broadway
The loan for this transaction was provided by Pacific Western Bank and PCCP. The landlord involved in the deal is Breslin Realty Development and Fields Grade Development. The brokers representing the transaction were Lee Spiegelman, Mark DeLillo, Marc Schulder, and Felipe Marin from BlueGate Partners.
Note: The loan type for this transaction is construction.
Players
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$109,000,000.00
Monthly NOI$726,666.67
Monthly Debt Service$688,954.15
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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