M&T Bank Provides $78.8M Loan For Williamsburg Development
FINANCED
$78,800,000
New York
See Similar DealsDevelopment Site57,499 SF
Financed 01/02/2020
FINANCED
M&T Bank Provides $78.8M Loan For Williamsburg Development
105 River St, Brooklyn, NY 11211, USA
See Similar DealsDevelopment Site57,499 SF
Financed 01/02/2020
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$1,370
Total Square Footage:57,499 SF
Transaction Type:Loan
A development property located at 105 River Street and 87 River Street in Williamsburg has recently been involved in a closed transaction. The property is owned by @TwoTreesNY and the lender for the transaction was M&T Bank. The loan amount for the transaction was $78,800,000.
Summary of transaction details
- Property Type: Development
- Transaction Amount: $78,800,000
- Address: 105 River Street, 87 River Street
- Market: Williamsburg
- Landlord: @TwoTreesNY
- Lender: M&T Bank
Jed Walentas represents the buyer/seller/landlord/tenant's interests in this transaction on behalf of TwoTreesNY.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$78,800,000.00
Monthly NOI$525,333.33
Monthly Debt Service$498,069.60
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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