Orange Management Secures $42.1M Loan From Bank Of The Ozarks In Brooklyn
70 Schermerhorn St, Brooklyn, NY, 11...
$42,100,000
Building Size
—
Asset Type
Commercial
Closing
Feb 22, 2018
AI
The commercial property located at 70 Schermerhorn St, Brooklyn, NY, 11... has been involved in a loan transaction dated February 22, 2018. The borrower, Orange Management, secured a loan amount of $42,100,000.00 from Bank of the Ozarks for this property in Brooklyn.
Summary of transaction details:
- Property Type: Commercial
- Transaction Amount: $42,100,000.00
- Address: 70 Schermerhorn St, Brooklyn, NY
- Market: Brooklyn
- Borrower's Representative: Mark Fisher(CBRE)
- Borrower: Orange Management
- Lender: Bank of the Ozarks
Mark Fisher from CBRE represented Orange Management as the borrower's representative in this transaction, facilitating the loan agreement with Bank of the Ozarks. The commercial property's financial dealings were structured with the oversight of these key individuals and companies.
Players
Brooklyn Commercial Market Snapshot
Boundary boundary · Commercial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.38%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93