Wintrust Bank Refinances $20M Loan For Multifamily, Retail & Mixed-use Property In Williamsburg
111 North 6th Street, Brooklyn, New York 11249, United States
$20,000,000
$2,617/SF
Building Size
7,640 SF
Asset Type
Mixed-use
Closing
Jul 14, 2022
About this deal
AI
The property involved in this transaction is located at 111, 113, and 115 North 6th Street in Williamsburg. It is a multifamily, retail, and mixed-use asset spanning a total of 7,640 square feet. The deal took place on July 15, 2022, and the property was purchased by L3 Capital.
Summary of transaction details
- Property Type: Multifamily, Retail & Mixed-use
- Transaction Amount: $20,000,000
- Lender: Wintrust Bank
- Landlord: L3 Capital
- Loan Type: Refinance
Domenic Lanni and Timothy Phair were the individuals who represented the lender, Wintrust Bank, in this transaction. They played a crucial role in facilitating the loan refinance for the property located at 111, 113, and 115 North 6th Street, Williamsburg.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
Loading comparables…
Deal FAQ
Browse New York mixed use loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93