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Josh Zegen Acquires Mixed-Use Property At 159 Broadway In Williamsburg For $27.5M

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FINANCED
$27,500,000

New York

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Mixed-use9,262 SF
Financed 01/11/2019
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Property Image
FINANCED

Josh Zegen Acquires Mixed-Use Property At 159 Broadway In Williamsburg For $27.5M

159 Broadway, Brooklyn

See Similar Deals
Mixed-use9,262 SF
Financed 01/11/2019
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$2,969
Total Square Footage:9,262 SF
Transaction Type:Loan

The mixed-use property located at 159 Broadway in Williamsburg has been involved in a closed transaction. The deal was facilitated by Galaxy Capital, the brokerage firm representing the parties involved. The property consists of both residential and commercial spaces, offering a diverse range of opportunities. The transaction value reached $27,500,000, reflecting the significance of the property in the market.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $27,500,000
  • Lender: Josh Zegen from Madison Realty Capital and Eli Tabak from The Bluestone Group
  • Landlord: Isaac Hager - Cornell Realty Management

In this transaction, Josh Zegen from Madison Realty Capital and Eli Tabak from The Bluestone Group acted as lenders. The loan amount of $27,500,000 demonstrates the confidence in the property's potential. Additionally, Isaac Hager from Cornell Realty Management served as the landlord, overseeing the management of the property. The involvement of these key individuals and companies highlights the significance of the deal and their roles in shaping the outcome.

Details

FINANCED
IMAGE: Josh Zegen (@JZegen) DATE: 11/01/2019 ADDRESS: 159 Broadway MARKET: Williamsburg ASSET TYPE: Mixed-use LENDER: Josh Zegen @MadisonRealtyCapital & Eli Tabak @TheBluestoneGroup LANDLORD: Isaac Hager – Cornell Realty Management BROKERS: Galaxy Capital LOAN AMOUNT: $27,500,000

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$27,500,000.00

Monthly NOI$183,333.33
Monthly Debt Service$173,818.71
Change in Cash Flow$0.00
Refinance Proceeds$0.00