Wells Fargo Provides $385M Loan For Mixed-use Property In Prospect Heights, Brooklyn
FINANCED
$385,000,000
New York
See Similar DealsMixed-use116,535 SF
Financed 07/15/2020
FINANCED
Wells Fargo Provides $385M Loan For Mixed-use Property In Prospect Heights, Brooklyn
595 Dean Street, Brooklyn, NY 11238
See Similar DealsMixed-use116,535 SF
Financed 07/15/2020
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$3,303
Total Square Footage:116,535 SF
Transaction Type:Loan
595 Dean Street, a mixed-use property located in Prospect Heights, Brooklyn, was involved in a recent transaction. The deal was finalized on July 15, 2021. The property is owned by TFCornerstone, a prominent landlord in the area. The transaction involved a loan amount of $385,000,000 provided by Wells Fargo, a well-known lender in the real estate industry.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $385,000,000
- Address: 595 Dean Street
- Market: Prospect Heights, Brooklyn
- Loan Provider: Wells Fargo
- Landlord: TFCornerstone
Frederick Elghanayan & K. Thomas Elghanayan played a key role in the transaction as the property owners. They were responsible for finalizing the deal with the assistance of their representative, TFCornerstone. Wells Fargo, represented by their lending team, provided the loan to facilitate the transaction.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$385,000,000.00
Monthly NOI$2,566,666.67
Monthly Debt Service$2,433,461.89
Change in Cash Flow$0.00
Refinance Proceeds$0.00
Is there something missing? Send suggestions