East West Bank Provides $34.8M Construction Loan For Industrial Property In Williamsburg
171 North 1st Street, Brooklyn, New York 11249, United States
$34,800,000
$2,510/SF
Building Size
13,860 SF
Asset Type
Industrial
Closing
Jun 5, 2022
AI
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.
Players
New York 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
0.46%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93