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Samuel Teitelbaum Secures $4.6M Construction Loan From Skybrook Capital For Retail Building In Williamsburg

Property Image
FINANCED
$4,600,000
IF
DS

New York

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Retail40,884 SF
Financed 04/09/2025
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Property Image
FINANCED

Samuel Teitelbaum Secures $4.6M Construction Loan From Skybrook Capital For Retail Building In Williamsburg

12 Berry Street & 16 Berry Street

See Similar Deals
Retail40,884 SF
Financed 04/09/2025
IF
DS
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$112
Total Square Footage:40,884 SF
Transaction Type:Loan

A construction loan has been secured for a one-story retail building located at 12-16 Berry Street in Williamsburg, Brooklyn. The building encompasses an area of 20,442 square feet and is anticipated to be utilized as a gym. The loan amount finalized for this project is $4,600,000.

Summary of transaction details:

This transaction is represented by David Samuels and Isaac Fried from Skybrook Capital, who were instrumental in facilitating the construction loan for Samuel Teitelbaum. Their involvement was crucial in securing financing for the retail development project.

Players

IF
Skybrook Capital
Isaac Fried
5 deals$15.6M volume
LENDER
DS
Skybrook Capital
David Samuels
6 deals$20.9M volume
LENDER
Skybrook Capital
Skybrook Capital
LENDER

Details

FINANCED
IMAGE: 04/09/2025 ADDRESS: 12-16 Berry Street MARKET: Williamsburg, Brooklyn ASSET TYPE: Retail ~ SF: 20,442 LENDER: David Samuels & Isaac Fried - Skybrook Capital LANDLORD: Samuel Teitelbaum LOAN AMOUNT: $4,600,000 LOAN TYPE: Construction NOTE: Samuel Teitelbaum secured a $4.6M construction loan from Skybrook Capital for a one-story, 20,441 sq. ft. retail building at 12-16 Berry St. in Williamsburg, likely to be used as a gym.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$4,600,000.00

Monthly NOI$30,666.67
Monthly Debt Service$29,075.13
Change in Cash Flow$0.00
Refinance Proceeds$0.00