Updated Oct 28, 2024
Madison Realty Capital Provides $43M Construction Loan For Water Mill SFR
66 Nowedonah Avenue, Water Mill, New York 11976, United States
$43,000,000
$417/SF
Building Size
103,000 SF
Asset Type
Single Family Residence
Closing
May 3, 2022
About this deal
AI
The property involved in this transaction is a single-family residential (SFR) located at 66 Nowedonah Avenue in Water Mill. The property spans a total of 103,000 square feet.
Summary of transaction details
- Property Type: SFR
- Transaction Amount: $43,000,000
- Date: 05/04/2022
- Address: 66 Nowedonah Avenue
- Market: Water Mill
- Loan Type: Construction
Moving forward, the loan for this transaction was provided by Madison Realty Capital. Josh Zegen represented Madison Realty Capital as the lender. The loan amount for this construction project was $43,000,000. The landlord in this deal was JS Squared, represented by James Stanton and Jeffrey Suchman. They facilitated the transaction as the property owners.
Players
Water Mill Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.37%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93