StorageMart Secures $39.3M Refinance Loan For Industrial Building At 44 Wallabout Street, Williamsburg, Brooklyn
44 Wallabout Street Brooklyn, New York 11205, USA
$39,300,000
Building Size
—
Asset Type
Industrial
Closing
May 23, 2023
AI
StorageMart secured a refinancing loan valued at $39.3 million from Citibank, facilitated by Citi Real Estate Funding Inc., for the industrial building located at 44 Wallabout Street in Williamsburg, Brooklyn. The property is an industrial building with a total square footage of 81,700.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $39,278,250
- Address: 44 Wallabout Street
- Market: Williamsburg, Brooklyn
- Lender: Citibank - Alicia L. Mioli
- Landlord: StorageMart - P. Crimson Burnam
- Loan Type: Refinance
The loan was provided by Citibank, specifically by Alicia L. Mioli. StorageMart is the landlord of the industrial building.
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
0.40%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93