Updated Dec 3, 2024
Amazon Secures $76M Construction-to-Perm Loan For Red Hook Industrial Space
280 Richards Street
$76,000,000
$243/SF
Building Size
312,100 SF
Asset Type
Industrial
Closing
Jan 2, 2021
About this deal
AI
The industrial property located at 280 Richards Street in Red Hook has been involved in a recent transaction. The property spans a total of 312,100 square feet and is owned by Thor Equities.
Summary of Transaction Details
- Property Type: Industrial
- Transaction Amount: $76,000,000
- Tenant: Amazon
- Landlord: Thor Equities
- Lender: Apollo Global Management
- Brokers: Jordy Roeschlaub, Dustin Stolly, Nick Scribani - Newmark
- Loan Terms: Seven-year, construction-to-perm loan
Amazon is the tenant for this property, while the landlord is Thor Equities. The loan for this transaction was provided by Apollo Global Management. The brokers who facilitated the deal were Jordy Roeschlaub, Dustin Stolly, and Nick Scribani from Newmark.
Players
Brooklyn 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
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93