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350 Jay Street, Brooklyn, N...

Updated Oct 28, 2024

Metlife Provides $26.6M Loan For Mixed-Use Property At 350 Jay Street In Brooklyn
FINANCEDMixed-use

Metlife Provides $26.6M Loan For Mixed-Use Property At 350 Jay Street In Brooklyn

350 Jay Street, Brooklyn, NY, USA

$26,600,000

$168/SF

Building Size

157,670 SF

Asset Type

Mixed-use

Closing

Jul 14, 2021

About this deal

AI

The mixed-use property located at 350 Jay Street in Brooklyn has been involved in a recent loan transaction. The loan was provided by Metlife, a prominent lender in the real estate industry. The landlord of the property is Muss Development, a well-known property development company. The loan amount for this transaction was $26,600,000. The property spans a total area of 157,670 square feet.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $26,600,000
  • Address: 350 Jay Street
  • Market: Brooklyn

This loan transaction brings together two major players in the industry: Metlife as the lender and Muss Development as the landlord. Both parties have come together to facilitate this financial arrangement. However, no additional information regarding this particular transaction is available at this time.

Players

Metropolitan Life Insurance
Metropolitan Life InsuranceLender
Muss Development
Muss DevelopmentLandlord

New York Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Loan transactions

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Deal FAQ

About $168 per square foot on a published $26.6M for 157,670 square feet (2021).

Browse New York mixed use loans on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.60%

Cash-on-Cash

-0.17%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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