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2300 Cropsey Ave, Brooklyn,...

Updated Oct 29, 2024

Millenium Estates Brokers Facilitate $67.5M Loan For Mixed-Use Property In Brooklyn, Bath Beach
FINANCEDMixed-use

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

G4 Capital Partners
G4 Capital PartnersLender

New York Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Loan transactions

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Deal FAQ

About $19 per square foot on a published $67.5M for 3,554,190 square feet (2020).

Browse New York mixed use loans on Traded.

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

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