Madison Realty Capital Provides $45.8M Construction Loan For Mixed-Use Property In Williamsburg
296 Wythe Avenue, Brooklyn, New York 11249, United States
$45,800,000
Units
55
Asset Type
Mixed-use
Closing
Feb 8, 2022
About this deal
AI
The mixed-use property located at 296 Wythe Avenue in Williamsburg has been involved in a recent transaction. The property consists of 55 units and is situated in a prime market area.
Summary of Transaction Details
- Property Type: Mixed-use
- Transaction Amount: $45,800,000
- Date: 02/09/2022
- Address: 296 Wythe Avenue, Williamsburg
- Market: Williamsburg
- Units: 55
The loan for this transaction was provided by Madison Realty Capital, with Josh Zegen representing the lender. The loan amount was $45,800,000, and it was of the construction type. Bruman Realty acted as the landlord for this deal. Steven Hersko from SHB Group served as the broker in this transaction.
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
0.35%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93