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189 1st Street, Gowanus, Br...

BEB Lending Provides $3.5M Bridge Loan For Industrial Properties In Gowanus, Brooklyn
FINANCEDIndustrial

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

Thomas Cordasco

Broker

$7.2M

vol

2 deals

Broker

Sean Silverbrook

BEB Lending

Lender

$71.9M

vol

15 deals

Lender
BEB Capital
BEB Capital Lender

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