Updated Oct 29, 2024
JPMorgan Chase Refinances Industrial Property In Clinton Hill, Brooklyn For $54.3 Million
32 Grand Avenue, Brooklyn, New York 11205, United States
$54,307,268
$193,954/SF
Building Size
280 SF
Asset Type
Industrial
Closing
Jan 12, 2022
About this deal
AI
Located at 32 Grand Avenue in Clinton Hill, Brooklyn, this industrial property spans over 280,000 square feet. The asset was recently involved in a closed transaction for a loan refinance.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $54,307,268
- Address: 32 Grand Avenue, Clinton Hill, Brooklyn
- Market: Clinton Hill, Brooklyn
The loan for this property was provided by JPMorgan Chase, with Austin Lotito representing the lender. The landlord of the property is Storage Post, with William A. Palmer III acting as their representative.
Please note that no additional details were provided regarding the terms or conditions of the loan refinance.
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
0.29%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93