Madison International Realty Refinances 625 Atlantic Avenue Mixed-Use For $69M
625 Atlantic Avenue
$69,000,000
Building Size
—
Asset Type
Mixed-use
Closing
Mar 18, 2024
About this deal
AI
The property involved in the transaction is a mixed-use building located at 625 Atlantic Avenue in Fort Greene, Brooklyn. The loan amount for this property was $69,000,000, and it was part of a refinancing deal with Voya Investment Management.
Summary of transation details:
- Property Type: Mixed-use
- Transaction Amount: $69,000,000
- ADDRESS: 625 Atlantic Avenue
- MARKET: Fort Greene, Brooklyn
- LENDER: Jason Tessler - Voya Investment Management
- LANDLORD: Ronald M. Dickerman - Madison International Realty
- LOAN TYPE: Refinance
Madison International Realty, represented by Atlantic Center Fort Greene Associates, LLC, successfully secured the $69 million refinance loan from Voya Investment Management for two properties. In addition to the mixed-use building at 625 Atlantic Avenue, the loan also covered a specialty building located at an undisclosed location in Fort Greene, Brooklyn.
Players
Brooklyn Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.23%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93