BEB Lending Provides $3.5M Bridge Loan For Industrial Properties In Gowanus, Brooklyn
189 1st Street, Gowanus, Brooklyn, NY, USA
$3,500,000
$524/SF
Building Size
6,680 SF
Asset Type
Industrial
Closing
Jun 9, 2021
AI
A $3.5 million bridge loan was provided by BEB Lending to finance two owner-occupied industrial properties located at 189 First Street in the Gowanus market of Brooklyn, NY. The loan transaction was structured by Sean Silverbrook, representing BEB Lending. The industrial properties are situated in Brooklyn, NY.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $3,500,000
- Lender: BEB Lending - Lee Brodsky, Keyvan Ghaytanchi & Sean Silverbrook
- Brokers: Thomas Cordasco & Terra CRG
- Market: Gowanus
- Address: 189 First Street
Lee Brodsky, Keyvan Ghaytanchi, and Sean Silverbrook from BEB Lending facilitated the financing for these two industrial properties. Additionally, Thomas Cordasco and Terra CRG served as the brokers involved in the transaction.
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
4.53%
Cash-on-Cash
-1.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93