Knickpoint Ventures Secures $38M Loan For Self-Storage Properties In Dumbo, University Heights & South Bronx
160 John St, Dumbo, Brooklyn, NY, USA
$38,000,000
$382/SF
Building Size
99,270 SF
Asset Type
—
Closing
Apr 22, 2021
About this deal
AI
A self-storage property located at 160 John St., 2165 Jerome Ave., and 1045 Webster in Dumbo, University Heights, and South Bronx was involved in a recent transaction.
Summary of transaction details
- Property Type: Self-Storage
- Transaction Amount: $38,000,000
- Date: 04/23/2021
- Lender: M&T Bank
- Landlord: Knickpoint Ventures
The loan amount for this transaction was $38,000,000. The lender involved in the deal was M&T Bank, and the landlord represented by Knickpoint Ventures. The property is situated in Dumbo, University Heights, and South Bronx, known for their vibrant communities and diverse business landscapes.
On the Map
$38,000,000
$382/SF
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.42%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93