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5601 Foster Avenue, East Fl...

Clutter Secures $23.8M Loan For Industrial Property In East Flatbush
FINANCEDIndustrial

Clutter Secures $23.8M Loan For Industrial Property In East Flatbush

5601 Foster Avenue, East Flatbush, Brooklyn, NY, USA

$23,838,959

$283/SF

Building Size

84,000 SF

Asset Type

Industrial

Closing

Sep 8, 2021

AI

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.

Players

C
ClutterLandlord

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

0.67%

Cash-on-Cash

-0.19%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93