Updated Oct 28, 2024
Webster Bank Refinances Industrial Property In East Williamsburg For $57M
101 Varick Avenue, Brooklyn, New York 11237, United States
$57,000,000
$389/SF
Building Size
146,300 SF
Asset Type
Industrial
Closing
Mar 29, 2022
About this deal
AI
The industrial property located at 101 Varick Avenue in East Williamsburg has recently undergone a refinancing transaction. The property spans a total of 146,300 square feet and is owned by Rabsky Group.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $57,000,000
- Address: 101 Varick Avenue
- Market: East Williamsburg
- Lender: Webster Bank
- Landlord: Rabsky Group
The loan, provided by Webster Bank, amounting to $57,000,000, was used to refinance the aforementioned industrial property. This transaction signifies the financial agreement between the borrower and lender, assisting in the management and development of the property.
Players
New York 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
0.28%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93