Full Time Management Secures 99 Year Ground Lease For Development Site In Brooklyn
FINANCED
$72,000,000
New York
See Similar DealsDevelopment Site
Financed 10/31/2025
FINANCED
Full Time Management Secures 99 Year Ground Lease For Development Site In Brooklyn
563 Sackett Street
See Similar DealsDevelopment Site
Financed 10/31/2025
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Loan
The property asset involved in this transaction is a development site with a buildable square footage of 270,000 square feet located at 563 Sackett Street in Brooklyn. This transaction is categorized as a ground lease, with a term set for 99 years.
Summary of transation details:
- Property Type: Ground Lease
- Transaction Amount: Not Specified
- Address: 563 Sackett Street
- Market: Brooklyn
- Asset Type: Development Site
- Ground Lessor: Montgomery Street Partners
- Developer: Full Time Management
- Broker: Tom Li - SPR Group LLC
The key individuals and companies involved in this transaction are Montgomery Street Partners, serving as the ground lessor, and Full Time Management, designated as the developer of the property. The broker facilitating the transaction is Tom Li from SPR Group LLC.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$72,000,000.00
Monthly NOI$480,000.00
Monthly Debt Service$455,088.98
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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