Waterman Capital Bank Provides $4.1M Refinance Loan For Carroll Gardens Industrial Property
100 Huntington Street
$4,100,000
$308/SF
Building Size
13,300 SF
Asset Type
Industrial
Closing
Jul 25, 2022
AI
The industrial property located at 100 Huntington St. in Carroll Gardens has recently undergone a refinance transaction. The property spans approximately 13,300 square feet and is owned by Shlomo Ariel.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $4,100,000
- Address: 100 Huntington St.
- Market: Carroll Gardens
- Lender: Waterman Capital Bank
- Landlord: Shlomo Ariel
- Brokers: Russell Nova & Sean Kuts - Cornerstone Capital
- Loan Type: Refinance
- Loan Terms: 10 Year Fixed / 4.00% Rate / 25 Year Amortization
Cornerstone Capital, represented by brokers Russell Nova and Sean Kuts, successfully secured a refinance loan for this industrial asset. Despite the current high interest rate environment and many lenders being cautious with financing, Cornerstone Capital was able to obtain financing with maximum leverage (75% Loan-to-Value) at a rate of 4.00% with a 10-year fixed term and a 25-year amortization schedule. Cornerstone Capital has been actively providing value-add financing for industrial properties, both for purchase and refinance purposes. For financing options on your next industrial or commercial property, you can contact Cornerstone Capital at the following:
Nova, Principal
Cornerstone Capital of NY
Cell: 917-559-1820
Email: [email protected]
Website: www.CSG-NY.com
Sean Kuts, Senior Relationship Manager
Cornerstone Capital of NY
Cell: 347-585-5212
Email: [email protected]
Website: www.CSG-NY.com
Players
Shelton Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.87%
Cash-on-Cash
-1.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93