Citigroup Global Markets Provides $26M Loan For Mixed-Use Properties In Brooklyn
184 Noll Street, Brooklyn, NY, USA
$26,000,000
Building Size
—
Asset Type
Mixed-use
Closing
Oct 25, 2018
About this deal
AI
Brooklyn's mixed-use property at 184 Noll Street, 286 Stanhope Street, and 324 Melrose Street has secured a loan worth $26,000,000. The property, managed and developed by Cayuga Capital Management, attracted the attention of Citigroup Global Markets, who provided the loan.
Summary of transation details
- Property Type: Mixed-use
- Transaction Amount: $26,000,000
- Lender: Citigroup Global Markets
- Landlord/Developer: Cayuga Capital Management
- Brokers: Aaron Appel, Keith Kurland, Jonathan Schwartz, and Adam Schwartz
This deal was facilitated by lender Citigroup Global Markets and the property's landlord and developer, Cayuga Capital Management. The transaction was supported by brokers Aaron Appel, Keith Kurland, Jonathan Schwartz, and Adam Schwartz.
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
0.61%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93