Signature Bank Refinances Specialty Building In Brownsville, Brooklyn For $50M
FINANCED
$50,000,000
New York
See Similar Deals129 SF
Financed 10/11/2022
FINANCED
Signature Bank Refinances Specialty Building In Brownsville, Brooklyn For $50M
1501 Pitkin Avenue, Brooklyn, New York 11212, United States
See Similar Deals129 SF
Financed 10/11/2022
Summary
NEW YORK
Price Per Square Foot:$387,596
Total Square Footage:129 SF
Transaction Type:Loan
The specialty building located at 1501 Pitkin Avenue in Brownsville, Brooklyn, has recently undergone a refinancing transaction. The property spans approximately 129,654 square feet and is an asset of significance in the market.
Summary of transation details
- Property Type: Specialty Building
- Transaction Amount: $50,000,000
- Address: 1501 Pitkin Avenue, Brownsville, Brooklyn
Signature Bank, represented by Nicholas A. LaMorte, acted as the lender in this refinancing deal. The loan was extended to the landlord, Shulem Herman.
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$50,000,000.00
Monthly NOI$333,333.33
Monthly Debt Service$316,034.01
Change in Cash Flow$0.00
Refinance Proceeds$0.00
Is there something missing? Send suggestions