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1138 Linwood Street

Yakup Imir Refinances $10M Loan For 77,000 SF Industrial Building In East New York
SOLD

Yakup Imir Refinances $10M Loan For 77,000 SF Industrial Building In East New York

1138 Linwood Street

Building Size

Asset Type

Closing

Mar 28, 2023

AI

Yakup Imir refinanced a $10 million loan for his 77,000-square-foot industrial building located at 1138 Linwood Street, East New York, Brooklyn. The property is situated in the East New York market.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $10,000,000
  • Address: 1138 Linwood Street
  • Market: East New York
  • Square Footage: 77,000

The loan was provided by Provident Bank, with Thomas Spencer representing the bank in the deal. Yakup Imir, the landlord of the property, sought to refinance the loan. It should be noted that the building generated $1.1 million in revenue in 2022.

Players

Yakup Imir

Landlord

2 deals

Landlord

New York CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93