JLL Capital Markets Arranges $79M Bridge Loan For Mixed-Use Properties In Upper East Side
309 East 94th Street
$79,000,000
Building Size
—
Asset Type
Mixed-use
Closing
Apr 14, 2022
About this deal
AI
The property asset involved in this transaction is a mixed-use development located at 309 East 94th Street and 324 East 95th Street in the Upper East Side market. The transaction includes a bridge loan amounting to $79,000,000.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $79,000,000
- Loan Type: Bridge
- Lender: Ares Management - Bryan Donohoe
- Landlord: Taconic Partners - Chris Balestra & Nuveen Real Estate
- Brokers: Evan Pariser, Aaron Niedermayer & Geoff Goldstein - JLL Capital Markets
This transaction was facilitated by key individuals from various firms. Bryan Donohoe represented Ares Management, while Chris Balestra was one of the representatives for Taconic Partners along with Nuveen Real Estate. The brokerage team from JLL Capital Markets included Evan Pariser, Aaron Niedermayer, and Geoff Goldstein, who played significant roles in the deal's execution.
On the Map
$79,000,000
Mixed-use
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Players
Brooklyn 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
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93