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

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FINANCED
$26,600,000

New York

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Mixed-use157,670 SF
Financed 07/15/2021
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FINANCED

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

350 Jay Street, Brooklyn, NY, USA

See Similar Deals
Mixed-use157,670 SF
Financed 07/15/2021
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$168
Total Square Footage:157,670 SF
Transaction Type:Loan

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

LENDER

Details

FINANCED
IMAGE: Jason Muss DATE: 07/15/2021 ADDRESS: 350 Jay Street MARKET: Brooklyn ASSET TYPE: Mixed-use LENDER: Metlife LANDLORD: Muss Development LOAN AMOUNT: $26,600,000 SF: 157,670

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$26,600,000.00

Monthly NOI$177,333.33
Monthly Debt Service$168,130.09
Change in Cash Flow$0.00
Refinance Proceeds$0.00