Knickpoint Ventures Secures $38M Loan For Self-Storage Properties In Dumbo, University Heights & South Bronx
FINANCED
$38,000,000
New York
See Similar Deals99,270 SF
Financed 04/23/2021
FINANCED
Knickpoint Ventures Secures $38M Loan For Self-Storage Properties In Dumbo, University Heights & South Bronx
160 John St, Dumbo, Brooklyn, NY, USA
See Similar Deals99,270 SF
Financed 04/23/2021
Summary
NEW YORK
Price Per Square Foot:$382
Total Square Footage:99,270 SF
Transaction Type:Loan
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.
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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