G4 Capital Partners Provides $40M Loan For Development Site At 76 Eighth Ave
76 8th Avenue, Brooklyn, NY 11215
$40,000,000
$1,164/SF
Building Size
34,364 SF
Asset Type
Development Site
Closing
Mar 11, 2019
AI
A boutique office development site located at 76 Eighth Ave has been involved in a closed transaction. The property spans across 34,364 square feet and is situated in a vibrant market.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $40,000,000
- Date: 03/12/2019
- Lender: G4 Capital Partners
- Landlord: Noviprop and Plus Development
HFF, represented by Peter Rotchford, Christopher Peck, David Giancola, and Kristen Knapp, acted as the brokers for 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
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93