Millenium Estates Brokers Facilitate $67.5M Loan For Mixed-Use Property In Brooklyn, Bath Beach
2300 Cropsey Ave, Brooklyn, NY 11214, USA
$67,500,000
$19/SF
Building Size
3,554,190 SF
Asset Type
Mixed-use
Closing
Jan 13, 2020
About this deal
AI
Located in the neighborhood of Bath Beach in Brooklyn, the mixed-use property at 2300 Cropsey Avenue has recently undergone a closed transaction. The property spans a total area of 355,419 square feet, offering a diverse range of commercial and residential space to its occupants. The deal, facilitated by Millenium Estates, involved several key players, including lender G4 Capital Partners and landlord W&L Group represented by Thomas Wang.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $67,500,000
- Address: 2300 Cropsey Avenue
- Market: Brooklyn, Bath Beach
- Lender: G4 Capital Partners
- Landlord: W&L Group – Thomas Wang
- Square Footage: 355,419
- Brokers: Millenium Estates
Robyn Sorid and Jason Behfarin from Millenium Estates played a crucial role in facilitating the transaction as the brokers representing the interested parties. Together with the lender, G4 Capital Partners, they ensured a successful deal for the mixed-use property at 2300 Cropsey Avenue. The landlord, W&L Group, led by Thomas Wang, also played a vital role in the transaction by representing their interests throughout the process.
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
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93