Waterway Capital And Landstone Capital Arrange $114.7M Refinance Loan For 140K SF Mixed-Use Property In Williamsburg, Brooklyn
187 Kent Avenue
$114,700,000
$819/SF
Building Size
140,000 SF
Asset Type
Mixed-use
Closing
Dec 15, 2022
AI
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
Williamsburg, brooklyn 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
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93