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Omri Bar-Mashiach Of Minerva Development Secures $4.5M Construction Loan From SDB For Multifamily Project
FINANCED
$4,500,000
New York
See Similar DealsMultiFamily
Financed 03/20/2025
FINANCED
Omri Bar-Mashiach Of Minerva Development Secures $4.5M Construction Loan From SDB For Multifamily Project
68 Quincy Street
See Similar DealsMultiFamily
Financed 03/20/2025
Summary
NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan
The asset involved is a multifamily residential property located at 68 Quincy Street in Bedford-Stuyvesant, Brooklyn. The project comprises a total of nine units and has secured a loan amounting to $4,500,000 specifically designated for construction purposes.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,500,000
- Address: 68 Quincy Street
- Market: Bedford Stuyvesant, Brooklyn
- Lender: SDB
- Landlord: Omri Bar-Mashiach - Minerva Development
- Loan Type: Construction
The loan details indicate that Omri Bar-Mashiach, representing Minerva Development, is directly involved in securing the financing for this residential project. The lender in this transaction is SDB, facilitating the construction financing necessary for the development of the nine-unit property.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$4,500,000.00
Monthly NOI$30,000.00
Monthly Debt Service$28,443.06
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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