Patriot Bank Refinances Industrial Property In Red Hook, Brooklyn For $7.5M
FINANCED
New York
See Similar DealsIndustrial111 SF
Financed 12/12/2022
FINANCED
Patriot Bank Refinances Industrial Property In Red Hook, Brooklyn For $7.5M
185 Van Dyke Street, Brooklyn, New York 11231, United States
See Similar DealsIndustrial111 SF
Financed 12/12/2022
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$67,567
Total Square Footage:111 SF
Transaction Type:Loan
The industrial property located at 185 Van Dyke Street in Red Hook, Brooklyn has been involved in a recent transaction. The property has a total building square footage of 111,265 square feet and a building square footage of 325,624 square feet. The transaction details include a loan refinance.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $7,500,000
- Address: 185 Van Dyke Street
- Market: Red Hook, Brooklyn
- Loan Type: Refinance
Patriot Bank, represented by Tommy Tran, provided the loan for the refinance. The loan amount is $7,500,000. The landlord of the property is Lande Alexander Properties Inc, represented by Lande Alexander and Brian Robbins.
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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