JG Funding Corp. Provides $2.8M Refinance Loan For Williamsburg Package Deal
203 Wallabout Street, Brooklyn, New York 11206, United States
$2,800,000
$339/SF
Building Size
8,245 SF
Asset Type
—
Closing
Jul 6, 2022
About this deal
AI
The package deal at 203 Wallabout St. in Williamsburg has been closed. The property spans approximately 8,245 square feet, making it a substantial investment.
Summary of transaction details
- Property Type: Package Deal
- Transaction Amount: $2,800,000
- Date: 07/07/2022
- Lender: JG Funding Corp.
- Broker: First Loans
- Loan Type: Refinance
- Loan Terms: 1st Lien, Blanket Loan with Partial Release, 12 months + extensions; I/O payment
The loan for this transaction was provided by JG Funding Corp. The amount of the loan is $2,800,000, and it is a refinance loan. The loan terms include being a 1st lien, blanket loan with partial release, with a duration of 12 months plus extensions and interest-only payment.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.67%
Cash-on-Cash
-1.62%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93