Cushman & Wakefield Secures $143M Construction Loan For Development Site On 5th Avenue Brooklyn
FINANCED
$142,920,034
+ 1
New York
See Similar DealsDevelopment Site
Financed 10/20/2022
FINANCED
Cushman & Wakefield Secures $143M Construction Loan For Development Site On 5th Avenue Brooklyn
120 5th Avenue
See Similar DealsDevelopment Site
Financed 10/20/2022
+ 1
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Loan
The development site at 120 5th Avenue in Brooklyn has secured a construction loan from Sumitomo Mitsui Trust Bank. The property, owned by Senlac Ridge Partners and William Macklowe Company, is a development site with a buildable square footage (BSF) of 194,736.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $142,920,034
- Lender: Sumitomo Mitsui Trust Bank
- Landlord: Senlac Ridge Partners & William Macklowe Company
The loan amount of $142,920,034 is provided by Sumitomo Mitsui Trust Bank for the construction of the development site at 120 5th Avenue in Brooklyn. The property is owned by Senlac Ridge Partners and William Macklowe Company. The transaction was facilitated by the brokers Dan O’Brien, Adam Spies, Gideon Gil, and Lauren Kaufman from Cushman & Wakefield.
Players
LANDLORD
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$142,920,034.00
Monthly NOI$952,800.23
Monthly Debt Service$903,351.83
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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