17 Luxury Construction Refinance Needed in NY
1. A property that needs to refinance with a construction loan.
2. This property is under construction with new 17 luxury units condos.
3. Currently, this property is at 40% construction completion.
4. When completed, it will have a value of around $10.2 million = $600,000 X 17.
5. The property is located in Brooklyn, NY 11226.
6. We are seeking $6,000,000 to pay off $3.6 million of the current mortgage and to finish the construction.
7. The old appraisal was prepared on 8/24/23 with a $8.645 million valuation when completed.
8. Since many works are done internally, the construction cost may not exceed per estimate.
Financials (USD)
Net Operating Income (Annual) Not Disclosed
Asking Price $6,000,000
Cap Rate Available On Request
Additional Details
Street Address 600 East 21st Street
Deal Terms
Broker Co-Op? Available On Request
Seller Financing Available? Available On Request
Seller Willing To Lease? Available On Request
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