Updated Oct 28, 2024
Citibank Provides $18M Loan For Office Property On Flatbush Avenue
Flatbush Avenue Station, 949 Flatbush Avenue, Hartford, CT, USA
$18,000,000
$384/SF
Building Size
46,760 SF
Asset Type
Office
Closing
Jul 6, 2021
About this deal
AI
An office property located at 949 Flatbush Avenue in the Flatbush market has recently undergone a closed transaction. The property spans across a total of 46,760 square feet.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $18,000,000
- Address: 949 Flatbush Avenue
- Market: Flatbush
The loan for this transaction was provided by citibank''>Citibank. The landlord of the property is Ash Management.
The office loan at Flatbush Avenue Station, 949 Flatbush Avenue, Hartford, CT, USA in West Hartford, Connecticut financed for $18M in 2021. The building is 46,760 square feet, implying about 384 per square foot on the published price. This page is the West Hartford, Connecticut file for the Flatbush Avenue Station, 949 Flatbush Avenue, Hartford, CT, USA office financed: pricing, party profiles, and other closed office comps from the same West Hartford sit in the Market section below. Filter that West Hartford office set by closing date to see what else financed near Flatbush Avenue Station, 949 Flatbush Avenue, Hartford, CT, USA around 2021. Published consideration for Flatbush Avenue Station, 949 Flatbush Avenue, Hartford, CT, USA is $18M, dated 2021. Cite this Citibank Provides $18M Loan For Office Property On Flatbush Avenue loan when underwriting similar office product around West Hartford, Connecticut.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.88%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93