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Equitas Capital Group Provides $3.1M Loan For Development Site In Clinton Hill

228 Vanderbilt Avenue
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This Development Site property located in NY received a loan of $3,086,000 almost 3 years ago. The broker of the deal was Alex Leykind

An $3,086,000 loan has been secured for the development site located at 228 Vanderbilt Avenue in the Clinton Hill market. The property is a Development Site with a buildable square footage (BSF) of 20,000.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $3,086,000
  • Loan Terms: Rate: 4.75%, LTC: 70%, Term: 18 months with 6 month extension, Amortization: Interest Only, PrePayment Penalty: None
  • Broker: Alex Leykind - quitas Capital Group

The loan terms include a 4.75% interest rate and a loan-to-cost (LTC) ratio of 70%. The loan has a term of 18 months with a 6-month extension option and amortization is interest only. There is no prepayment penalty associated with the loan.

Equitas Capital Group, represented by Alex Leykind, has been actively involved in originating ground-up construction deals in the Metro NYC Market. For those interested in ground-up construction or rehabilitation projects, Equitas Capital Group offers financing solutions. Contact them at 646-637-7510 for more information.

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Deals
  • Location
    228 Vanderbilt Avenue, Brooklyn, NY 11205, USA228 Vanderbilt Avenue, Brooklyn, NY 11205, USA
  • Loan Value
    $3,086,000$3,086,000
  • Asset Type
    Development SiteDevelopment Site
  • Parties
    1 Broker, 1 Agency1 Broker, 1 Agency

Agent

Alex Leykind

Alex Leykind

Deals70
Financed$411.4M

Agency

Equitas Capital Group

Equitas Capital Group

Agency
Deals103
Volume$648.1M

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Deal Summary

LOAN IMAGE: @AlexLeykind1 DATE: 04/02/2021 ADDRESS: 228 Vanderbilt Avenue MARKET: Clinton Hill ASSET TYPE: Development Site ~ BSF: 20,000 BROKER: @AlexLeykind1 - @EquitasCapitalGroup LOAN AMOUNT: $3,086,000 LOAN TERMS: Rate: 4.75%, LTC: 70%, Term: 18 months with 6 month extension, Amortization: Interest Only, PrePayment Penalty: None NOTE FROM @EquitasCapitalGroup: Equitas Capital has been very active in originating ground up construction deals in the Metro NYC Market.Please reach out to us to see how we can finance your next ground up construction / Rehab project ! Let us know how can we help you solve your commercial real estate needs. 📱 646-637-7510

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228 Vanderbilt Avenue

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