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165 Eldridge Street

JLL Brokers Secure $27.5M Acquisition Loan For Mixed-Use Properties In Manhattan And Brooklyn
FINANCED

JLL Brokers Secure $27.5M Acquisition Loan For Mixed-Use Properties In Manhattan And Brooklyn

165 Eldridge Street

$27,500,000

Building Size

Asset Type

Closing

Jul 7, 2022

AI

The mixed-use property located at 165 Eldridge St. in Manhattan and 68 Richardson St. in Brooklyn has been involved in a closed transaction. Spanning a total area of 62,500 square feet, this property boasts a unique combination of residential and commercial spaces. The transaction was facilitated by JLL brokers Max Herzog, Marko Kazanjian, and Andrew Cohen.

Summary of Transaction Details:

  • Property Type: Mixed-use
  • Transaction Amount: $27,500,000
  • Lender: IDBNY - Jeremy Romine
  • Landlord: Marble Hill Capital Partners - Meng Lee & Karim Elsayyad
  • Brokers: Max Herzog, Marko Kazanjian, and Andrew Cohen - JLL

Jeremy Romine from IDBNY provided a loan amounting to $27,500,000 for the acquisition of this property. As for the landlord, Marble Hill Capital Partners, it is represented by Meng Lee and Karim Elsayyad.

Players

Marko Kazanjian

Institutional Property Advisors

Broker

$5.4B

vol

71 deals

Broker
Meng Lee

Meng Lee

Marble Hill Capital Partners

Landlord

$95.8M

vol

4 deals

Landlord

New York CRE Market Snapshot

Boundary boundary · CRE · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.58%

Cash-on-Cash

-0.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93