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Waterway Capital And Landstone Capital Arrange $114.7M Refinance Loan For 140K SF Mixed-Use Property In Williamsburg, Brooklyn

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FINANCED
$114,700,000

New York

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Mixed-use140,000 SF
Financed 12/15/2022
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Property Image
FINANCED

Waterway Capital And Landstone Capital Arrange $114.7M Refinance Loan For 140K SF Mixed-Use Property In Williamsburg, Brooklyn

187 Kent Avenue

See Similar Deals
Mixed-use140,000 SF
Financed 12/15/2022
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$819
Total Square Footage:140,000 SF
Transaction Type:Loan

The mixed-use property located at 187 Kent Avenue in Williamsburg, Brooklyn has undergone a refinancing transaction. The property spans an area of 140,000 square feet and is owned by Cheskie Weisz and Yakov Klein.

Summary of transaction details

  • Property Type: Mixed-Use
  • Transaction Amount: $114,700,000
  • Lender: Nuveen TIAA & Bank of America
  • Landlord: Cheskie Weisz & Yakov Klein
  • Broker: Waterway Capital & Landstone Capital

The loan, totaling $114,700,000, was secured for the property's refinance. Nuveen TIAA provided financing on the fee position, arranged by Tom Sargent and Eli Glanz of Waterway Capital. Additionally, Bank of America provided financing on the leasehold position, arranged by Leah Paskes and Michael Wittow of Landstone Capital.

Players

Cheskie Weisz
CW Realty
Cheskie Weisz
17 deals$496.8M volume
BROKER
Bank of America
Bank of America
LENDER
Cheskie Weisz
CW Realty
Cheskie Weisz
17 deals$496.8M volume
LANDLORD

Details

FINANCED
IMAGE: Eli Glanz, Cheskie Weisz, Michael Wittow & Tom Sargent DATE: 12/15/2022 ADDRESS: 187 Kent Avenue MARKET: Williamsburg, Brooklyn ASSET TYPE: Mixed-Use ~ SF: 140,000 LENDER: Nuveen TIAA & Bank of America LANDLORD: Cheskie Weisz & Yakov Klein BROKER: Waterway Capital & Landstone Capital LOAN AMOUNT: $114,700,000 LOAN TYPE: Refinance NOTE FROM BROKERS: Tom Sargent & Eli glanz of waterway capital arranged the financing from Nuveen on the fee position. Leah paskes & Michael Wittow of landstone capital arranged the financing from Bank of America on the leasehold.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$114,700,000.00

Monthly NOI$764,666.67
Monthly Debt Service$724,982.02
Change in Cash Flow$0.00
Refinance Proceeds$0.00