Updated Apr 1, 2025
Bank United Provides $12.75M Acquisition Loan For Warehouses On Anthony Street In Brooklyn
15 Anthony Street, 19 Anthony Street, 23 Anthony Street & 35 Anthony Street
$12,375,000
$95/SF
Building Size
32,540 SF
Asset Type
Industrial
Closing
Mar 11, 2025
About this deal
AI
The property asset involved in this transaction is a collection of warehouses located at 15, 19, 23 & 35 Anthony Street in Brooklyn. The total square footage of the industrial asset is 32,540. The acquisition was executed for a total price of $13,750,000, with a loan amounting to $12,750,000 secured from Bank United, featuring a five-year fixed-rate loan at 6.55% with 25 years amortization.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $13,750,000
- Loan Amount: $12,750,000
- Loan Type: Acquisition
- Loan Terms: 5 Years Fixed Rate @ 6.55%, 25 Years Amortization
- Address: 15, 19, 23 & 35 Anthony Street
- Market: Brooklyn
- Lender: Bank United
- Broker: Jason Au - Au Consultants Inc
Jason Au successfully arranged the acquisition loan for a user to purchase nearly an entire block of warehouses in Greenpoint, Brooklyn. The brokerage firm involved in this transaction is Au Consultants Inc, represented by Jason Au.
On the Map
$12,375,000
$95/SF
Industrial
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Players
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
1.28%
Cash-on-Cash
-0.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93