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Orin Portnoy Of Quantum Real Property Secures $7.5M Loan From Symetra Life Insurance Company In Brooklyn
FINANCED
$7,500,000
New York
See Similar DealsIndustrial8,304 SF
Financed 05/27/2025
FINANCED
Orin Portnoy Of Quantum Real Property Secures $7.5M Loan From Symetra Life Insurance Company In Brooklyn
16 Norman Avenue
See Similar DealsIndustrial8,304 SF
Financed 05/27/2025
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$903
Total Square Footage:8,304 SF
Transaction Type:Loan
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.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$7,500,000.00
Monthly NOI$50,000.00
Monthly Debt Service$47,405.10
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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