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Wiederkehr Real Estate & S&G Realty Holding Secures $22M Refinance Loan From Genesis LLC For Properties In East Williamsburg
FINANCED
$22,000,000
New York
See Similar DealsIndustrial
Financed 08/21/2025
FINANCED
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
See Similar DealsIndustrial
Financed 08/21/2025
Summary
NEW YORK
Asset Type:Industrial
Transaction Type:Loan
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.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$22,000,000.00
Monthly NOI$146,666.67
Monthly Debt Service$139,054.97
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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