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
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