JLL Brokers Arrange $264M Loan For 400K SF Office & Retail Property In Downtown Brooklyn
141 Willoughby St, Downtown Brooklyn, Brooklyn, NY, USA
$264,000,000
$660/SF
Building Size
400,000 SF
Asset Type
Mixed-use
Closing
May 10, 2021
About this deal
AI
The property involved in the transaction is located at 141 Willoughby St. in Downtown Brooklyn. It is an office and retail space with a total square footage of 400,000. The transaction took place on May 11, 2021. The property is owned by Savanna.
Summary of transaction details
- Property Type: Office & Retail
- Transaction Amount: $264,000,000
- Address: 141 Willoughby St.
- Market: Downtown Brooklyn
- Loan Brokers: Aaron Niedermayer & Kellogg Gaines @JLL
The loan amount for this transaction was $264,000,000. The deal involved the loan brokers Aaron Niedermayer and Kellogg Gaines from JLL.
On the Map
$264,000,000
$660/SF
Mixed-use
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Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.06%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93