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

Property Image
FINANCED
$27,500,000
Max Herzog
Marko Kazanjian
+ 2

New York

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Financed 07/07/2022
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Property Image
FINANCED

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

165 Eldridge Street

See Similar Deals
Financed 07/07/2022
Max Herzog
Marko Kazanjian
+ 2
Contact now

Summary

NEW YORK
Transaction Type:Loan

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
71 deals$5.4B volume
BROKER

Max Herzog
Institutional Property Advisors
80 deals$5.4B volume(212) 430-5165
BROKER

Andrew Cohen
Institutional Property Advisors
43 deals$3B volume
BROKER

Meng Lee
4 deals$95.8M volume
LANDLORD

Details

FINANCED
IMAGE: POST LOAN IMAGE: Max Herzog, Marko Kazanjian, Andrew Cohen, Meng Lee, Karim Elsayyad & Jeremy Romine DATE: 07/07/2022 ADDRESS: 165 Eldridge St. & 68 Richardson MARKET: Manhattan & Brooklyn ASSET TYPE: Mixed-use ~ SF: 62,500 LENDER: IDBNY - Jeremy Romine LANDLORD: Marble Hill Capital Partners - Meng Lee & Karim Elsayyad BROKERS: Max Herzog, Marko Kazanjian (@MarkoKaz) & Andrew Cohen (@The_Andrew_Cohen) - JLL (@JLL) LOAN AMOUNT: $27,500,000 LOAN TYPE: Acquisition

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$27,500,000.00

Monthly NOI$183,333.33
Monthly Debt Service$173,818.71
Change in Cash Flow$0.00
Refinance Proceeds$0.00