Dime Community Bank Provides $38M Loan For North Williamsburg Office Building
FINANCED
$38,000,000
California
See Similar DealsOffice52,000 SF
Financed 07/08/2020
FINANCED
Dime Community Bank Provides $38M Loan For North Williamsburg Office Building
61 N 11th St, Brooklyn, Ny 11249, Usa
See Similar DealsOffice52,000 SF
Financed 07/08/2020
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$730
Total Square Footage:52,000 SF
Transaction Type:Loan
The recently closed property transaction in North Williamsburg involved an office asset located at 61 North 11th Street. The property spans across 52,000 square feet and consists of 4 units. The transaction took place on the date of July 8, 2020.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $38,000,000
- Lender: Dime Community Bank
- Landlord: Cheskie Weisz
- Broker: Leah Paskus – Landstone Capital Group
- Loan Terms: 5 Year term with a 3.06% Rate
Conrad Gunther and Cheskie Weisz were involved in the loan arrangement as depicted in the loan image. Dime Community Bank provided a loan amount of $38,000,000 to facilitate the transaction. The loan terms consist of a 5-year term with a 3.06% interest rate. Leah Paskus from Landstone Capital Group represented the parties involved as the broker.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$38,000,000.00
Monthly NOI$253,333.33
Monthly Debt Service$240,185.85
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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