East West Bank Provides $34.8M Construction Loan For Industrial Property In Williamsburg
FINANCED
$34,800,000
New York
See Similar DealsIndustrial13,860 SF
Financed 06/06/2022
FINANCED
East West Bank Provides $34.8M Construction Loan For Industrial Property In Williamsburg
171 North 1st Street, Brooklyn, New York 11249, United States
See Similar DealsIndustrial13,860 SF
Financed 06/06/2022
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$2,510
Total Square Footage:13,860 SF
Transaction Type:Loan
The industrial property located at 171 North 1st Street in Williamsburg has been involved in a recent transaction. The property spans 13,860 square feet and is situated in the Williamsburg market.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $34,800,000
- Lender: East West Bank
- Landlord: Gemini Rosemont
- Loan Type: Construction
The lender involved in this transaction is East West Bank, providing a construction loan of $34,800,000. The landlord of the property is Gemini Rosemont.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$34,800,000.00
Monthly NOI$232,000.00
Monthly Debt Service$219,959.67
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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