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Madison International Realty Refinances 625 Atlantic Avenue Mixed-Use For $69M

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FINANCED
$69,000,000

New York

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Mixed-use
Financed 03/18/2024
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FINANCED

Madison International Realty Refinances 625 Atlantic Avenue Mixed-Use For $69M

625 Atlantic Avenue

See Similar Deals
Mixed-use
Financed 03/18/2024
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Summary

NEW YORK
Asset Type:Mixed-use
Transaction Type:Loan

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

LENDER

Details

FINANCED
IMAGE: Ronald M. Dickerman DATE: 03/18/2024 ADDRESS: 625 Atlantic Avenue MARKET: Fort Greene, Brooklyn ASSET TYPE: Mixed-use LENDER: Jason Tessler - Voya Investment Management (@VoyaInvestments) LANDLORD: Ronald M. Dickerman - Madison International Realty LOAN AMOUNT: $69,000,000 LOAN TYPE: Refinance NOTE: Madison International Realty, represented by Atlantic Center Fort Greene Associates, LLC, secured a $69 million refinance loan from Voya Investment Management for two properties, including the mixed-use building at 625 Atlantic Avenue and a specialty building at an undisclosed location in Fort Greene, Brooklyn.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$69,000,000.00

Monthly NOI$460,000.00
Monthly Debt Service$436,126.94
Change in Cash Flow$0.00
Refinance Proceeds$0.00