386 Leonard Street Development Site In Williamsburg Acquired By BridgeCity Capital For $2.9M | 386 Leonard Street | Louis Lebovits, Moishe Loketch | Development Site | Loan

Summary

Loan

NEW YORK

Development Site

60,000 sqft

A development site located at 386 Leonard Street in Williamsburg has been sold in a closed transaction. The property spans 6,000 square feet and consists of 6 residential units and 1 commercial unit. The transaction was facilitated by brokers Moishe Loketch and Louis Lebovits from the Loketch Group.

Summary of transaction details

Property Type: Development Site
Transaction Amount: Not provided
Address: 386 Leonard Street, Williamsburg
Market: Williamsburg

Moishe Loketch and Louis Lebovits from the Loketch Group represented the buyer in this transaction. The lender for the deal was BridgeCity Capital, providing a loan amount of $2,900,000 with a term of 24 months and a LIBOR + 6.72 interest rate. The landlord of the property is Eli Pavel.

Players

All
2

Agents
2

Louis Lebovits

COO & General Counsel

$2.9M Sold

Moishe Loketch

Director

Details

Deal Summary

FINANCED

IMAGE: Moishe Loketch & Louis Lebovits DATE: 12/24/2019 ADDRESS: 386 Leonard Street MARKET: Williamsburg ASSET TYPE: Dev. Site LENDER: BridgeCity Capital LANDLORD: Eli Pavel BROKERS: Moishe Loketch, Louis Lebovits @loketch_group LOAN AMOUNT: $2,900,000 LOAN AMOUNT: LIBOR + 6.72 with 24 month term – Construction Loan SF: 6,000 UNITS: 6 residentials + 1 commercial

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Address386 Leonard Street

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