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
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.
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