Cayre Equities Secures $25.3M Refinance Loan For East Flatbush Industrial Building
25 Remsen Avenue
$25,300,000
$227/SF
Building Size
111,391 SF
Asset Type
Industrial
Closing
Sep 12, 2023
AI
Cayre Equities, represented by the entity CS Utica & Remsen LLC, secured a refinancing loan from Bank Hapoalim valued at $25.3 million for the industrial building (E7) situated at 25 Remsen Avenue in East Flatbush, Brooklyn. The property is an industrial asset with a total area of 111,391 square feet. The loan was obtained on September 12, 2023, and the lender is Bank Hapoalim, represented by Gerard DePoalo and Judy Barnes. The landlord of the property is Kenneth Cayre of Cayre Equities.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $25,300,000
- Address: 25 Remsen Avenue, East Flatbush, Brooklyn
- Lender: Bank Hapoalim - Gerard DePoalo & Judy Barnes
- Landlord: Kenneth Cayre - Cayre Equities
The refinancing loan was obtained by Cayre Equities, represented by CS Utica & Remsen LLC, for the industrial building located at 25 Remsen Avenue. The lender, Bank Hapoalim, provided a loan amount of $25.3 million. Gerard DePoalo and Judy Barnes served as representatives for Bank Hapoalim in the transaction.
Players
Brooklyn Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
Loading comparables…
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