Wintrust Bank Refinances $20M Loan For Multifamily, Retail & Mixed-use Property In Williamsburg
FINANCED
$20,000,000
New York
See Similar DealsMixed-use7,640 SF
Financed 07/15/2022
FINANCED
Wintrust Bank Refinances $20M Loan For Multifamily, Retail & Mixed-use Property In Williamsburg
111 North 6th Street, Brooklyn, New York 11249, United States
See Similar DealsMixed-use7,640 SF
Financed 07/15/2022
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$2,617
Total Square Footage:7,640 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$20,000,000.00
Monthly NOI$133,333.33
Monthly Debt Service$126,413.60
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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