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185 Van Dyke Street, Brookl...

Patriot Bank Refinances Industrial Property In Red Hook, Brooklyn For $7.5M
FINANCEDIndustrial

Patriot Bank Refinances Industrial Property In Red Hook, Brooklyn For $7.5M

185 Van Dyke Street, Brooklyn, New York 11231, United States

$7,500,000

$67,567/SF

Building Size

111 SF

Asset Type

Industrial

Closing

Dec 12, 2022

AI

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.

Players

Lande Alexander

Lande Alexander Properties Inc

Landlord

$35M

vol

3 deals

Landlord

Brooklyn 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

2.12%

Cash-on-Cash

-0.60%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93