Updated Sep 17, 2025
Wiederkehr Real Estate & S&G Realty Holding Secures $22M Refinance Loan From Genesis LLC For Properties In East Williamsburg
110 Varick Avenue, 140 Stewart Avenue & 111 Gardner Avenue
$22,000,000
Building Size
—
Asset Type
Industrial
Closing
Aug 21, 2025
About this deal
AI
The transaction involves three properties located at 110 Varick Avenue, 140 Stewart Avenue, and 111 Gardner Avenue in the East Williamsburg market of Brooklyn, characterized as industrial and mixed-use assets. The refinancing loan secured amounts to $22,000,000.
Summary of transaction details:
- Property Type: Industrial & Mixed-use
- Transaction Amount: $22,000,000
- Lender: Genesis LLC
- Landlord: Wiederkehr Real Estate & S&G Realty Holding
- Loan Type: Refinance
The refinancing deal involves Wiederkehr Real Estate and S&G Realty Holding, who secured the loan from Genesis LLC for properties leased to the bankrupt music venue Avant Gardner. The transaction highlights the involvement of significant players in the Brooklyn real estate market.
On the Map
$22,000,000
Industrial
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Players
Brooklyn Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.72%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93