Updated Jun 5, 2025
JLL Capital Markets Arranges $60.8M Loan For Industrial Properties In Brooklyn & Maspeth
250 Johnson Avenue, Brooklyn, New York 11206, United States
$60,800,000
$304/SF
Building Size
200,000 SF
Asset Type
Industrial
Closing
Apr 19, 2022
About this deal
AI
The industrial property located at 250 Johnson Ave., 124-134 Forrest St., 132 54th St., 58-17 59th Drive & 5700 49th Place in Brooklyn and Maspeth has been involved in a loan transaction. The property, spanning 200,000 square feet, was refinanced.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $60,800,000
- Lender: Chase
- Landlord: Seagis Property Group LP
- Brokers: Gregory Nalbandian, Jim Cadranell, Michael Lachs & Alex Staikos - JLL Capital Markets
- Loan Terms: 10-year, non-recourse, interest-only
The loan amount for the refinancing of this industrial property was $60,800,000. The lender involved in the transaction was Chase. The landlord of the property is Seagis Property Group LP. The brokers representing the deal were Gregory Nalbandian, Jim Cadranell, Michael Lachs & Alex Staikos from JLL Capital Markets. The loan terms agreed upon were a 10-year duration, non-recourse, and interest-only.
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
0.26%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93