Updated Oct 29, 2024
G4 Capital Partners Provides $76.55M Loan For Development Site At 285 Schermerhorn, Downtown Brooklyn
285 Schermerhorn St, Brooklyn, NY 11217, USA
$76,550,000
$99/SF
Building Size
770,000 SF
Asset Type
Development Site
Closing
Oct 21, 2018
About this deal
AI
John Leslie, Jonathan Aghravi, and Charles Han closed a transaction on a development site located at 285 Schermerhorn in Downtown Brooklyn. The property spans a total of 77,000 square feet.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $76,550,000
- Address: 285 Schermerhorn, Downtown Brooklyn
- Market: Downtown Brooklyn
The deal was made possible with a loan from G4 Capital Partners. The landlord of the property is BCS, represented by Lou Greco.
The development site loan at 285 Schermerhorn St, Brooklyn, NY 11217, USA in New York, New York financed for $76.6M in 2018. The building is 770,000 square feet, implying about 99 per square foot on the published price. This page is the New York, New York file for the 285 Schermerhorn St, Brooklyn, NY 11217, USA development site financed: pricing, party profiles, and other closed development site comps from the same New York sit in the Market section below. Filter that New York development site set by closing date to see what else financed near 285 Schermerhorn St, Brooklyn, NY 11217, USA around 2018. Published consideration for 285 Schermerhorn St, Brooklyn, NY 11217, USA is $76.6M, dated 2018. Cite this G4 Capital Partners Provides $76.55M Loan For Development Site At 285 Schermerhorn, Downtown Brooklyn loan when underwriting similar development site product around New York, New York.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93