Colony Capital Provides $84M Loan For Mixed-Use Property On Wythe Avenue, Williamsburg
360 Wythe Ave, Brooklyn, NY 11249, USA
$84,000,000
$3,360/SF
Building Size
25,000 SF
Asset Type
Mixed-use
Closing
Oct 24, 2019
About this deal
AI
The property involved in this closed transaction is located at 360 Wythe Avenue in Williamsburg, Brooklyn. It is a mixed-use asset consisting of retail, office, and residential spaces. The transaction took place on October 25, 2019.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $84,000,000
- Address: 360 Wythe Avenue
- Market: Williamsburg, Brooklyn
- Size: 25,000 square feet of retail space, 46,000 square feet of office space, and just over 18,500 square feet of residential space
- Rental Units: 28
The lender involved in this transaction was Colony Capital, and the landlord was Flank Architecture + Development. The brokers representing the deal were Keith Kurland, Aaron Appel, Jonathan Schwartz, and Adam Schwartz.
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
0.19%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93