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Citigroup Provides $125M Loan For Mixed-Use Property In Brooklyn

Property Image
FINANCED
$125,000,000
David Bistricer

New York

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Mixed-use370,305 SF
Financed 06/12/2019
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Property Image
FINANCED

Citigroup Provides $125M Loan For Mixed-Use Property In Brooklyn

250 Livingston St, Brooklyn, NY 11201, USA

See Similar Deals
Mixed-use370,305 SF
Financed 06/12/2019
David Bistricer
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$337
Total Square Footage:370,305 SF
Transaction Type:Loan

The mixed-use property located at 250 Livingston St in Brooklyn has recently been involved in a closed transaction. The property, owned by David Bistricer of Clipper Equity, has attracted attention from various parties in the real estate market. The deal was facilitated by Iron hound management, with Rob Verrone and Pat Perone acting as brokers.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $125,000,000
  • Lender: Citigroup
  • Landlord: David Bistricer – Clipper Equity
  • Broker: Iron hound management – Rob Verrone & Pat Perone

The involvement of Iron hound management, represented by Rob Verrone and Pat Perone, highlights their expertise in facilitating significant real estate deals. The financing for this transaction was provided by Citigroup, further showcasing their commitment to supporting large-scale property acquisitions.

Players

Robert Verrone
31 deals$5.9B volume
BROKER


David Bistricer
Clipper Equity
23 deals$2.8B volume
LANDLORD

Details

FINANCED
IMAGE: David Bistricer DATE: 06/12/2019 ADDRESS: 250 Livingston St MARKET: Brooklyn ASSET TYPE: Mixed-use LENDER: Citigroup LANDLORD: David Bistricer – Clipper Equity BROKER: Iron hound management – Rob Verrone & Pat Perone LOAN AMOUNT: $125,000,000

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$125,000,000.00

Monthly NOI$833,333.33
Monthly Debt Service$790,085.03
Change in Cash Flow$0.00
Refinance Proceeds$0.00