FINANCEDMixed-use
H.I.G. Realty Partners Provides $240M Refinance Loan For Mixed-Use Property In Downtown Brooklyn
540 Fulton Street, Brooklyn, New York 11216, United States
$240,000,000
$1,846/SF
Building Size
130,000 SF
Asset Type
Mixed-use
Closing
Feb 19, 2022
AI
Located at 540 Fulton Street in Downtown Brooklyn, this mixed-use property spans approximately 130,000 square feet and comprises 327 units. The property recently underwent a loan refinancing transaction.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $240,000,000
- Address: 540 Fulton Street
- Market: Downtown Brooklyn
- Square Footage: 130,000
- Units: 327
H.I.G. Realty Partners, represented by Michael Mestel, provided the loan for this refinancing deal.
Players
HP
H.I.G. Realty PartnersLender
H.I.G. CapitalLender
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
0.07%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93