Mack Real Estate, Palin Enterprises & Urban Development Partners Secure $175M Loan For India Street Residential Property With HSBC
21 India St, Brooklyn, NY 11222, USA
$175,000,000
$385/SF
Building Size
454,500 SF
Asset Type
Mixed-use
Closing
Jul 21, 2019
About this deal
AI
The residential property located at 21-23 India Street in North Brooklyn has been involved in a closed transaction. The property, pictured above, was sold for a total transaction amount of $175,000,000. HSBC provided the loan for this transaction. The property is owned by Mack Real Estate, Palin Enterprises, and Urban Development Partners.
Summary of transation details
- Property Type: Residential
- Transaction Amount: $175,000,000
- Lender: HSBC
- Landlord: Mack Real Estate, Palin Enterprises, and Urban Development Partners
- Brokers: Drew Anderman and Josh Berman from Meridian Capital Group
The deal was facilitated by brokers Drew Anderman and Josh Berman from Meridian Capital Group. They represented the parties involved in the transaction. No additional details were provided regarding the size or specific characteristics of the residential property.
On the Map
$175,000,000
$385/SF
Mixed-use
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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
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93