Updated Jun 23, 2025
Orin Portnoy Of Quantum Real Property Secures $7.5M Loan From Symetra Life Insurance Company In Brooklyn
16 Norman Avenue
$7,500,000
$903/SF
Building Size
8,304 SF
Asset Type
Industrial
Closing
May 27, 2025
About this deal
AI
The property asset involved in this transaction is an industrial building located at 16 Norman Avenue in Greenpoint, Brooklyn. It encompasses a building size of 8,304 square feet and a lot size of 9,150 buildable square feet.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $7,500,000
- Lender: Symetra Life Insurance Company
- Landlord: Orin Portnoy - Quantum Real Property
- Market: Greenpoint, Brooklyn
Orin Portnoy, representing Quantum Real Property, facilitated the securing of the loan from Symetra Life Insurance Company for the financing of the industrial property at the specified address.
On the Map
$7,500,000
$903/SF
Industrial
View full map
Players
Brooklyn Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
Loading comparables…
Deal FAQ
Visit Orin Portnoy to view all their deals.
Browse Brooklyn industrial loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.12%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93