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2 Saint Ann's Avenue

Getir's Mehmed Nazim Salur Secures $70M Loan From WhiteHawk Capital For Mott Haven Property
FINANCEDIndustrial

Getir's Mehmed Nazim Salur Secures $70M Loan From WhiteHawk Capital For Mott Haven Property

2 Saint Ann's Avenue

$70,000,000

$114/SF

Building Size

613,339 SF

Asset Type

Industrial

Closing

Apr 28, 2025

AI

The industrial asset located at 2 Saint Ann's Avenue in the Mott Haven area of the Bronx encompasses a total square footage of 613,339. This property is associated with a loan provided by WhiteHawk Capital Partners to Getir, the landlord managing the facility. The loan amount secured for this distribution center is $70,000,000, and it also includes rights to two adjacent parcels providing an expansive total of 5.8 million buildable square feet.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $70,000,000
  • Lender: WhiteHawk Capital Partners
  • Landlord: Mehmed Nazim Salur - Getir
  • Address: 2 Saint Ann's Avenue
  • Market: Mott Haven, Bronx
  • Asset Size (SF): 613,339
  • Buildable Area: 5.8 million sq. ft.

Mehmed Nazim Salur serves as the landlord representing Getir in this transaction. The deal facilitates the financial maneuvering necessary for the operation and expansion of the distribution center in Mott Haven, enhancing logistical capabilities for the tenant.

Players

G
GetirLandlord

Bronx 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

0.23%

Cash-on-Cash

-0.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93