Updated Oct 29, 2024
JPMorgan Chase Provides $13.3M Refinance Loan For Industrial Properties In Cypress Hills, Brooklyn
3329 Atlantic Avenue, Brooklyn, New York 11208, United States
$13,303,769
$108,160/SF
Building Size
123 SF
Asset Type
Industrial
Closing
Jan 12, 2022
About this deal
AI
An industrial property located at 3329 Atlantic Avenue, 257R Euclid Avenue & 279 Euclid Avenue in Cypress Hills, Brooklyn, has recently undergone a loan transaction. The property spans approximately 123,414 square feet and is owned by Storage Post, represented by William A. Palmer III.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $13,303,769
- Loan Type: Refinance
JPMorgan Chase, represented by Austin Lotito, provided a loan amounting to $13,303,769 to facilitate the refinancing of the property at 3329 Atlantic Avenue, 257R Euclid Avenue & 279 Euclid Avenue. This transaction allows the property owner, Storage Post, to leverage their industrial asset in Cypress Hills, Brooklyn.
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
1.19%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93