Zions Bank Provides $101.9M Construction Loan For School In Riverdale
FINANCED
$101,915,000
New York
See Similar DealsOther19,000 SF
Financed 08/01/2021
FINANCED
Zions Bank Provides $101.9M Construction Loan For School In Riverdale
2720 Jerome Crescent, Riverdale West, Hamilton, On, Canada
See Similar DealsOther19,000 SF
Financed 08/01/2021
Summary
NEW YORK
Asset Type:Other
Price Per Square Foot:$5,363
Total Square Footage:19,000 SF
Transaction Type:Loan
A construction loan has been secured for a school property located at 2720 Jerome Avenue in Riverdale. The school has a total area of 19,000 square feet.
Summary of transaction details
- Property Type: School
- Transaction Amount: $101,915,000
- Lender: Zions Bank
- Landlord: KIPP NYC
- Loan Type: Construction
Zions Bank will be providing the loan for the construction project. KIPP NYC, the landlord, will oversee the development of the school.
Players
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$101,915,000.00
Monthly NOI$679,433.33
Monthly Debt Service$644,172.13
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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