Andrew Waldman's 360 Capital Funding Provides $20.3M Acquisition & Rehab Loan For Greenpoint Retail Property
12 Franklin Street
$20,300,000
$676/SF
Building Size
30,000 SF
Asset Type
Industrial
Closing
Oct 26, 2023
AI
Located at 12 Franklin Street in Greenpoint, Brooklyn, this retail property spans 30,000 square feet.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $20,300,000
- Address: 12 Franklin Street
- Market: Greenpoint, Brooklyn
- Lender: Andrew Waldman - 360 Capital Funding
- Broker: Charles Yellen - HKS Real Estate Advisors
- Loan Type: Acquisition & Rehab
The lenders involved in this transaction are Andrew Waldman from 360 Capital Funding, who facilitated the loan of $20,300,000 for the acquisition and rehabilitation of the property. Charles Yellen from HKS Real Estate Advisors represented both parties as the broker in this deal.
Players
Brooklyn 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
0.78%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93