Updated Oct 29, 2024
Centennial Bank Provides $18M Loan For Gowanus Industrial Property
586 Sackett St, Brooklyn, NY 11217, USA
$18,000,000
$600/SF
Building Size
30,000 SF
Asset Type
Industrial
Closing
Oct 24, 2019
About this deal
AI
A commercial property located at 586 Sackett Street and 577 Union Street in Gowanus has been involved in a recent closed transaction. The property falls under the industrial asset type and had a loan amount of $18,000,000. The lending institution involved in the transaction was Centennial Bank. The property was owned by Tavros Capital and Charney Construction, who acted as landlords in the deal.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $18,000,000
Sam Charney and Nicholas Silvers were the individuals responsible for the transaction. They represented the interests of the landlords, Tavros Capital and Charney Construction, respectively.
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
0.88%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93