Updated Feb 16, 2024
John Quadrozzi Jr. Refinances Industrial Property In Brooklyn For $40M With Emerald Creek Capital
685 Columbia Street, Brooklyn, New York, United States
$40,000,000
$1,049/SF
Building Size
38,122 SF
Asset Type
Industrial
Closing
Jul 25, 2022
About this deal
AI
Located at 685 Columbia Street in Brooklyn, this industrial property spans a total area of 38,122 square feet. The property was recently involved in a loan transaction.
Summary of transaction details
- Property Type: Industrial
- Loan Amount: $40,000,000
- Loan Type: Refinance
- Lender: Emerald Creek Capital
- Landlord: John Quadrozzi Jr.
The loan, facilitated by Emerald Creek Capital, was used to refinance the property on July 26, 2022. Mark Bahiri and Mark Penna were involved in the transaction, as shown in the accompanying image on Instagram.
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
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93