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$13.2M Loan Secured For Commercial Property At 210 Clarkson Ave, Brooklyn

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FINANCED
$13,200,000

New York

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FINANCED

$13.2M Loan Secured For Commercial Property At 210 Clarkson Ave, Brooklyn

210 Clarkson Ave, Brooklyn, NY, 11226

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Commercial
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Summary

NEW YORK
Asset Type:Commercial
Transaction Type:Loan

The commercial property located at 210 Clarkson Ave, Brooklyn, NY, 11226 is the subject of a $13,200,000 bridge loan provided by Emerald Creek Capital in August of 2019. The property spans two stories, covering 43,200 square feet, and is positioned on a 27,000 square foot corner lot. It houses a supermarket, a Dollar Tree store, an educational facility, and a rooftop recreation area, with an additional 5,200 square foot parking lot. The location in Prospect Lefferts Gardens benefits from its proximity to Prospect Park and prime placement on a well-trafficked commercial avenue, easily accessible by the 2 and 5 trains.

Summary of transaction details:

  • Property Type: Commercial
  • Transaction Amount: $13,200,000.00
  • Address: 210 Clarkson Ave, Brooklyn, NY, 11226
  • Market: Brooklyn

The borrower of the $13,200,000 bridge loan provided by Emerald Creek Capital remains unidentified. Notably, the property in Prospect Lefferts Gardens is occupied by a variety of businesses and benefits from its desirable residential and retail neighborhood, known for its proximity to Brooklyn’s renowned Prospect Park. The strategic positioning of this property on a busy commercial avenue ensures high visibility and accessibility, further enhancing its investment appeal.

Players

23 deals$189.2M volume
BROKER

Emerald Creek Capital
LANDLORD

Details

FINANCED
IMAGE: 210 Clarkson Ave, Brooklyn, NY, 11226 MARKET: Brooklyn ASSET TYPE: Commercial LENDER'S REP: () BORROWER: Unknown LOAN AMOUNT: $13,200,000.00

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$13,200,000.00

Monthly NOI$88,000.00
Monthly Debt Service$83,432.98
Change in Cash Flow$0.00
Refinance Proceeds$0.00