Updated Oct 28, 2024
UBS Group AG Provides $25M Loan For Industrial Property In Red Hook, Brooklyn
80 Richards Street, Red Hook, Brooklyn, NY, USA
$25,000,000
$170/SF
Building Size
146,650 SF
Asset Type
Industrial
Closing
Jun 28, 2021
About this deal
AI
The industrial property located at 80 Richards Street and 76 Verona Street in Red Hook has undergone a recent loan transaction. The loan was provided by UBS Group AG in the amount of $25,000,000. The property spans a total of 146,650 square feet.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $25,000,000
- Address: 80 Richards Street & 76 Verona Street
- Market: Red Hook
- Lender: UBS Group AG
- Landlord: HH Realty Equities
- Square Footage: 146,650
Steve Hakimzadeh & Ralph Hamers from HH Realty Equities represented the landlord in this transaction.
Players
New York Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93