BrightSpire Capital Refinances Mixed-Use Property In Williamsburg For $29M
326 Wythe Avenue, Brooklyn, New York 11249, United States
$29,000,000
$1,026/SF
Building Size
28,241 SF
Asset Type
Mixed-use
Closing
May 16, 2022
AI
The mixed-use property located at 326 Wythe Avenue, 57 South 1st Street & 70 Grand Street in Williamsburg has been refinanced with a loan. The property spans a total of 28,241 square feet.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $29,000,000
- Market: Williamsburg
- Lender: BrightSpire Capital
- Landlord: Tidal Real Estate Partners
- Loan Type: Refinance
The loan was provided by BrightSpire Capital, while Tidal Real Estate Partners serves as the landlord for this property. Mick Walsdorf & Michael J. Mazzei shared an image of the property on Instagram, offering a glimpse of its features and location.
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
0.55%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93