Two Trees Management Secures $59.5M Loan For Mixed-Use Property At 60 Water Street In Dumbo
60 Water St, Brooklyn, NY 11201, USA
$59,500,000
$168/SF
Building Size
354,237 SF
Asset Type
Mixed-use
Closing
Aug 5, 2020
About this deal
AI
The mixed-use property located at 60 Water Street in Dumbo has been involved in a closed transaction. The property spans across 354,237 square feet and is situated in a prime location in the market. The transaction details include a loan amount of $59,500,000.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $59,500,000
- Address: 60 Water Street
- Market: Dumbo
Wells Fargo served as the lender in this transaction, providing financial support for the acquisition of the property. Two Trees Management acted as the landlord in the deal, overseeing the transaction process.
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
0.27%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93