Brookfield Properties Refinances Greenpoint Mixed Use Property For $330M
2 Blue Slip, Brooklyn, New York 11222, United States
$330,000,000
Units
421
Asset Type
Mixed-use
Closing
Jan 14, 2022
About this deal
AI
Two Blue Slip, a mixed-use property located in Greenpoint, has recently undergone a significant transaction. The property encompasses 421 units and spans across 22.0 acres. The deal, facilitated by MF1 Capital, involved a refinancing loan amount of $330,000,000, with a 5-year, floating-rate term.
Summary of transaction details
- Property Type: Mixed use
- Transaction Amount: $330,000,000
- Address: Two Blue Slip
- Market: Greenpoint
- Units: 421
- Acres: 22.0
Brookfield Properties, represented by Bruce Flatt and Brian Kingston, served as the landlord in this transaction. CBRE's Tom Traynor, James Millon, Mark Finan, and PJ Finley acted as the brokers. Their expertise and negotiation skills played a crucial role in facilitating the deal.
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
0.05%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93