Updated Oct 28, 2024
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
About this deal
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.
On the Map
$23,838,959
$283/SF
Industrial
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Brooklyn 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
0.67%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93