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4702 2nd Avenue

Klein’s Naturals Refinances Industrial Property In Sunset Park Brooklyn With $6.8M Loan From Ameritas
FINANCEDIndustrial

Klein’s Naturals Refinances Industrial Property In Sunset Park Brooklyn With $6.8M Loan From Ameritas

4702 2nd Avenue

$6,800,000

Building Size

Asset Type

Industrial

Closing

May 8, 2025

AI

An industrial property located at 4702 2nd Avenue in the Sunset Park area of Brooklyn has been refinanced. The loan for this property amounts to $6,800,000, provided by Ameritas Mutual Holding Company. This refinancing replaces a prior loan of $2,800,000 from Bank of America.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $6,800,000
  • Lender: Ameritas Mutual Holding Company
  • Landlord: Klein’s Naturals
  • Original Loan Amount: $2,800,000
  • Original Lender: Bank of America
  • Loan Type: Refinance
  • Transaction Date: 05/08/2025

Klein’s Naturals is the landlord involved in the deal, securing the refinancing to enhance its financial position regarding the industrial property. Ameritas Life Insurance Corp. facilitated this transaction as the lender, indicating a commitment to supporting the property management and its future operations.

Players

Ameritas
Ameritas Lender

Brooklyn Industrial Market Snapshot

Boundary boundary · Industrial · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.33%

Cash-on-Cash

-0.67%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93