Updated Feb 4, 2025
Centennial Bank Provides $43.5M Loan For Development Site In Brooklyn Heights
200 Montague Street, Brooklyn Heights, Brooklyn, NY, USA
$43,500,000
$395/SF
Building Size
110,000 SF
Asset Type
Development Site
Closing
Jul 26, 2021
About this deal
AI
The development site located at 200 Montague Street in Brooklyn Heights has been involved in a recent loan transaction. Centennial Bank granted a loan amount of $43,500,000 for this property. The site spans across 110,000 square feet and is owned by Cayre Group.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $43,500,000
- Address: 200 Montague Street
- Market: Brooklyn Heights
- Landlord: Cayre Group
- BSF: 110,000
This loan was provided by Centennial Bank as financing for the development site at 200 Montague Street. The Cayre Group, the landlord of the property, facilitated this transaction.
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.36%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93