Scale Lending Provides $86.7M Construction Loan For Williamsburg Multifamily Property
FINANCED
$86,700,000
New York
See Similar DealsMultiFamily170,000 SF
Financed 03/27/2022
FINANCED
Scale Lending Provides $86.7M Construction Loan For Williamsburg Multifamily Property
575 Grand Street willambu
See Similar DealsMultiFamily170,000 SF
Financed 03/27/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$510
Total Square Footage:170,000 SF
Transaction Type:Loan
Located at 575 Grand St. in the vibrant Williamsburg market, a multifamily property with approximately 170,000 square feet has been involved in a recent closed transaction.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $86,700,000
- Loan Type: Construction
- Lender: Scale Lending
- Landlord: Goose Property Management
- Broker: Henry Bodek - Galaxy Capital
Scale Lending played a significant role in this transaction as the lender. Goose Property Management acted as the landlord in this deal. Providing brokerage services, Henry Bodek represented the interests of the involved parties through Galaxy Capital. The loan, amounting to $86,700,000, was specifically tailored for construction purposes.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$86,700,000.00
Monthly NOI$578,000.00
Monthly Debt Service$548,002.98
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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