David Bollag & James Darling Of Meridian Capital Group Secures $15,350,000 Construction Loan In Bronx
$15,350,000
Building Size
—
Asset Type
MultiFamily
Closing
May 27, 2026
AI
The property asset involved in this transaction is a multifamily building located in the Bronx. The loan amount secured for this transaction is $15,350,000, categorized as a construction loan with terms of 70% loan-to-cost at 300 basis points plus SOFR, with no floor rate stipulated.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $15,350,000
- Loan Type: Construction
- Loan Terms: 70% LTC at 300 + SOFR, no floor rate
- Date: 5/29/2026
- Market: Bronx
- Broker Representatives: David Bollag & James Darling - Meridian Capital Group
Key individuals involved in this transaction include brokers David Bollag and James Darling, who represent Meridian Capital Group in facilitating this loan deal. Their involvement underscores the professional brokerage services provided for this multifamily financing arrangement.
Players
Market MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.03%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93