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Condo Development Land Loan 610

Brooklyn, NY
7.00 - 7.50%
Annual Return

COMPLETED
Investment Summary

· Investment Type: Land Acquisition Loan (First Lien)
· Minimum Investment: $20,000/share
· Loan to Value: 54.79%
· Projected Term:12-18 months
· Interest Disbursement: 6 months in advance for 2 times,then Quarter by Quarter

The property is in SheepsHead Bay, Brooklyn, with total buildable area of 11,148 square feet, situated on a 2,787 square feet lot.
Zoning is R7A, Far is 4.00.

Currently there is a 2 story residential building in the lot, developer will demolish the building and build a condo building. The
land acquisition cost is $1,460,000.

Next to bus stop, 4 minutes walking to subway, 30 minutes commuting to Manhattan.

Property Overview

The property is in SheepsHead Bay, Brooklyn, with total buildable area of 11,148 square feet, situated on a 2,787 square feet lot.
Zoning is R7A, Far is 4.00.

· Lot Size: 2,787 SQ. FT
· Building Area:11,148SQ. FT

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