Clutter Secures $23.8M Loan For Industrial Property In East Flatbush
FINANCED
$23,838,959
New York
See Similar DealsIndustrial84,000 SF
Financed 09/09/2021
FINANCED
Clutter Secures $23.8M Loan For Industrial Property In East Flatbush
5601 Foster Avenue, East Flatbush, Brooklyn, NY, USA
See Similar DealsIndustrial84,000 SF
Financed 09/09/2021
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$283
Total Square Footage:84,000 SF
Transaction Type:Loan
Located in East Flatbush, the industrial property at 5601 & 5633 Foster Avenue has been involved in a recent loan transaction. The property spans a total area of 84,000 square feet and belongs to the landlord, Clutter. The lender, Michael Forman from FS Investments, provided a loan of $23,838,959.
Summary of Transaction Details
- Property Type: Industrial
- Transaction Amount: $23,838,959
- Address: 5601 & 5633 Foster Avenue
- Market: East Flatbush
- Landlord: Clutter
Representing FS Investments, Michael Forman played a key role as the lender in this transaction. Their involvement highlights the financial aspect of the deal, ensuring that the necessary funds were provided to support the acquisition or development of the property.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$23,838,959.00
Monthly NOI$158,926.39
Monthly Debt Service$150,678.44
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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