JPMorgan Chase Provides $13.3M Refinance Loan For Industrial Properties In Cypress Hills, Brooklyn
FINANCED
$13,303,769
New York
See Similar DealsIndustrial123 SF
Financed 01/12/2022
FINANCED
JPMorgan Chase Provides $13.3M Refinance Loan For Industrial Properties In Cypress Hills, Brooklyn
3329 Atlantic Avenue, Brooklyn, New York 11208, United States
See Similar DealsIndustrial123 SF
Financed 01/12/2022
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$108,160
Total Square Footage:123 SF
Transaction Type:Loan
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.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$13,303,769.00
Monthly NOI$88,691.79
Monthly Debt Service$84,088.87
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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