PNC Bank Provides $57.4M Loan For Uovo's Warehouse On Evergreen Ave
SOLD
$57,400,000
New York
See Similar DealsIndustrial150,000 SF
Sold 08/02/2019
SOLD
PNC Bank Provides $57.4M Loan For Uovo's Warehouse On Evergreen Ave
105 Evergreen Ave, Brooklyn, NY, USA
See Similar DealsIndustrial150,000 SF
Sold 08/02/2019
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$382
Total Square Footage:150,000 SF
Transaction Type:Sale
A warehouse located at 105 Evergreen Ave. in Brooklyn has been involved in a closed property transaction. The property, with a total area of 150,000 square feet, was sold for a loan amount of $57.4 million. The selling price per square foot was $313.
Summary of transaction details
- Property Type: Warehouse
- Loan Amount: $57.4 million
- Address: 105 Evergreen Ave.
- Market: Brooklyn
PNC Bank provided the loan for this transaction, while Uovo acted as the landlord. Steven Guttman, as the representative from PNC Bank, facilitated the deal.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,061,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$203,930.09
Cash-on-Cash Return-1.27%
Monthly Debt Service$272,105.28
Annual Debt Service$3,265,263.41
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