Horizon Group Secures $25M Construction Loan For Industrial Property On Weirfield St
378 Weirfield Street, Brooklyn, New York 11237, United States
$25,000,000
$577/SF
Building Size
43,260 SF
Asset Type
Industrial
Closing
Aug 7, 2022
AI
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $25,000,000
- Date: 08/08/2022
- Address: 378 Weirfield Street, Bushwick, Brooklyn
- Market: Bushwick, Brooklyn
- Square Footage: 43,260
- Units: 66
Bank Hapoalim provided a construction loan of $25,000,000 for the property located at 378 Weirfield Street in Bushwick, Brooklyn. The asset is an industrial property with a total square footage of 43,260 and consists of 66 units. The loan was obtained on 08/08/2022.
The landlord of the property is Horizon Group, represented by David Marom.
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
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93