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Urban View Development Group Secures $16.9M Rehab Construction Loan For Specialty Building In Clinton Hill, Brooklyn

Property Image
FINANCED
$16,900,000

New York

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Special Purpose26,500 SF
Financed 06/13/2023
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Property Image
FINANCED

Urban View Development Group Secures $16.9M Rehab Construction Loan For Specialty Building In Clinton Hill, Brooklyn

81-87 Irving Place Brooklyn, New York 11238, USA

See Similar Deals
Special Purpose26,500 SF
Financed 06/13/2023
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Special Purpose
Price Per Square Foot:$637
Total Square Footage:26,500 SF
Transaction Type:Loan

Urban View Development Group has secured a $16.9 million rehab construction loan from Popular Bank for the specialty building at 81-87 Irving Place in Clinton Hill, Brooklyn. The property is located in the Clinton Hill neighborhood of Brooklyn and is designated as a specialty building. It has a total building size of 26,500 square feet and a buildable square footage of 32,000. The transaction took place on June 13, 2023.

Summary of Transaction Details

  • Property Type: Specialty
  • Transaction Amount: $16,900,000
  • Address: 81-87 Irving Place, Clinton Hill, Brooklyn
  • Market: Clinton Hill, Brooklyn
  • Loan Type: Construction

Urban View Development Group, led by Nadav Hamo, secured the $16.9 million rehab construction loan from Popular Bank. Sana S. Khaliq from Popular Bank represented the lender in this transaction.

Players

Popular Bank
Popular Bank
LENDER
Nadav Hamo
Nadav Hamo
9 deals$68.1M volume
LANDLORD

Details

FINANCED
IMAGE: Nadav Hamo DATE: 06/13/2023 ADDRESS: 81-87 Irving Place MARKET: Clinton Hill, Brooklyn ASSET TYPE: Specialty ~ BSF: 32,000 ~ SF: 26,500 LENDER: Popular Bank - Sana S. Khaliq LANDLORD: Urban View Development Group - Nadav Hamo LOAN AMOUNT: $16,900,000 LOAN TYPE: Construction NOTE: Urban View Development Group has secured a $16.9 million rehab construction loan from Popular Bank for the specialty building at 81-87 Irving Place in Clinton Hill, Brooklyn.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$16,900,000.00

Monthly NOI$112,666.67
Monthly Debt Service$106,819.50
Change in Cash Flow$0.00
Refinance Proceeds$0.00