Scale Lending Provides $68.5M Construction Loan For Mixed-Use Property At 210 Clarkson St. In Prospect Lefferts Gardens
210 Clarkson Avenue, Brooklyn, NY, USA
$68,500,000
$415/SF
Building Size
165,000 SF
Asset Type
Mixed-use
Closing
Nov 29, 2021
About this deal
AI
The mixed-use property located at 210 Clarkson Street in Prospect Lefferts Gardens has been involved in a recent closed transaction. The property spans approximately 165,000 square feet and consists of 165 units. The transaction took place in November 2021.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $68,500,000
- Address: 210 Clarkson Street
- Market: Prospect Lefferts Gardens
- Square Footage: 165,000
- Units: 165
Martin Nussbaum and David Schwartz shared an image on Instagram to commemorate the closed transaction. The transaction involved a construction loan provided by SCALE Lending. K2 Real Estate Partners acted as the landlord in the deal. Meridian Capital Group served as the broker.
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
0.23%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93