Updated Sep 5, 2024
Signature Bank Provides $25M Loan For Industrial Property On Greenpoint Ave
236-250 Greenpoint Ave, Greenpoint, Brooklyn, NY, USA
$25,000,000
$63/SF
Building Size
395,000 SF
Asset Type
Industrial
Closing
May 17, 2020
About this deal
AI
A loan in the amount of $25,000,000 was provided for the industrial property located at 236-250 Greenpoint Ave in Greenpoint. The property spans approximately 395,000 square feet. It is situated in a vibrant market, making it a valuable asset in the area.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $25,000,000
- Address: 236-250 Greenpoint Ave
- Market: Greenpoint
- Square Footage: 395,000
The loan was secured through Signature Bank, with Joseph Fingerman representing the lender. The landlord of the property is Morty Yashar. The transaction was facilitated by brokers Isaac Filler and Yossi Koschitzki from Meridian Capital Group. Their expertise in the market played a significant role in the successful completion of the deal.
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
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93