Woodmont Development Secures $18 Million Refinance Loan From KeyBank For Industrial Asset In Brooklyn
534 63rd Street
$18,000,000
$132/SF
Building Size
135,600 SF
Asset Type
Industrial
Closing
Jul 28, 2026
AI
The transaction involves an industrial building located at 534 63rd Street in Sunset Park, Brooklyn, encompassing a total area of 135,600 square feet. Woodmont Development has secured a loan amounting to $18 million for refinancing purposes, replacing a previously held loan of $18.9 million by Santander Bank.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $18,000,000
- Loan Type: Refinance
- Lender: KeyBank
- Landlord: Woodmont Development
The refinancing process was managed by KeyBank, which arranged the loan for Woodmont Development, facilitating their continued investment in the property at 534 63rd Street, following the transition from Santander Bank as the previous lender.
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
0.88%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93