Elliot Horowitz Of H Equities Closes $12M Loan For Mixed-use Property In Brooklyn
135 Kent Avenue
$12,000,000
$545/SF
Building Size
22,000 SF
Asset Type
Mixed-use
Closing
Dec 19, 2024
About this deal
AI
135 Kent Avenue is located in Brooklyn and comprises a mixed-use property with a total square footage of 22,000. The property is currently undergoing repositioning with additional capital expenditures aimed at attracting new retailers to the area. The loan involved in this transaction amounts to $12,000,000.
Summary of transation details:
- Property Type: Mixed-use
- Transaction Amount: $12,000,000
- Address: 135 Kent Avenue
- Market: Brooklyn
- Lender: Elliot Horowitz - H Equities & 141 Funding
- Landlord: Michael Weitzman
- Loan Type: Repositioning
- Square Footage: 22,000
Elliot Horowitz serves as the CEO of H Equities, the lending entity alongside 141 Funding. H Equities has expressed a commitment to exploring additional financing opportunities, including bridge financing and joint ventures, aiming to collaborate with sponsors interested in further expanding their capital structures.
Players
Brooklyn Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
Loading comparables…
Deal FAQ
Browse Brooklyn mixed use loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.32%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93