Updated Oct 28, 2024
Bankwell Financial Group Provides $3.5M Acquisition Loan For Office Property In New Canaan, CT
50 Pine Street, New Canaan, CT, USA
$3,500,000
$241/SF
Building Size
14,500 SF
Asset Type
Office
Closing
Aug 27, 2021
About this deal
AI
The property involved in this transaction is an office located at 50 Pine Street in New Canaan, CT. It has a total square footage of 14,500 and was acquired through an Acquisition Loan.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $3,500,000
- Address: 50 Pine Street, New Canaan, CT
- Market: New Canaan, CT
- Lender: Bankwell Financial Group
- Broker: Ben Jacobs - Meridian Capital Group
Ben Jacobs from Meridian Capital Group represented the buyer in this deal, while Bankwell Financial Group provided the loan amount of $3,500,000. For more information, please contact Ben Jacobs directly at 212-612-0202 or [email protected].
On the Map
$3,500,000
$241/SF
Office
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New Canaan Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.53%
Cash-on-Cash
-1.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93