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
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
0.60%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93