Valley National Bank Provides $21.8M Loan For Mixed-Use Property In Bushwick
605 Hart St, Brooklyn, NY 11221, USA
$21,800,000
$41/SF
Building Size
520,000 SF
Asset Type
Mixed-use
Closing
Dec 11, 2019
About this deal
AI
A mixed-use property located at 605 Hart St in the Bushwick market has been involved in a closed transaction. The property spans approximately 52,000 square feet and was sold for a loan amount of $21,800,000. The property is owned by CitiStructure & Manatus Development and was represented by Max Ralby of HKS Real Estate Advisors.
Summary of transaction details:
- Property Type: Mixed-Use
- Transaction Amount: $21,800,000
- Address: 605 Hart St
- Market: Bushwick
Max Ralby from HKS Real Estate Advisors played a key role as the broker representing the property owners, CitiStructure & Manatus Development, in this transaction. Valley National Bank provided the loan for this deal.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
Loading comparables…
Deal FAQ
Visit Max Ralby to view all their deals.
Browse New York mixed use loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.73%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93