Updated Mar 11, 2025
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
About this deal
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.
The industrial loan at 171 North 1st Street, Brooklyn, New York 11249, United States in New York, New York financed for $34.8M in 2022. The building is 13,860 square feet, implying about 2.5K per square foot on the published price. Named participants on the 171 North 1st Street, Brooklyn, New York 11249, United States loan are Gemini Rosemont. This page is the New York, New York file for the 171 North 1st Street, Brooklyn, New York 11249, United States industrial financed: pricing, party profiles, and other closed industrial comps from the same New York sit in the Market section below. Filter that New York industrial set by closing date to see what else financed near 171 North 1st Street, Brooklyn, New York 11249, United States around 2022. Published consideration for 171 North 1st Street, Brooklyn, New York 11249, United States is $34.8M, dated 2022. Cite this East West Bank Provides $34.8M Construction Loan For Industrial Property In Williamsburg loan when underwriting similar industrial product around New York, New York.
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