GreenRock Funding LLC Provides $16M Construction Loan For Mixed-Use Property In Williamsburg, Brooklyn
65 Eckford Street
$16,000,000
$619/SF
Building Size
25,834 SF
Asset Type
Mixed-use
Closing
Mar 23, 2023
AI
The mixed-use property located at 65 Eckford Street in Williamsburg, Brooklyn has recently undergone a closed transaction. The property spans across 25,834 square feet and is owned by Abraham Posner. A construction loan of $16,000,000 was secured for this property.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $16,000,000
- Address: 65 Eckford Street, Williamsburg, Brooklyn
- Market: Williamsburg, Brooklyn
- SF: 25,834
- Landlord: Abraham Posner
- Broker: Elya Kahn - GreenRock Funding LLC
- Loan Type: Construction
- Loan Terms: 2 years IO fixed rate
GreenRock Funding LLC, represented by Elya Kahn, acted as the broker in this transaction. The loan secured for this property is a construction loan with a term of 2 years and an interest-only fixed rate.
Players
Market 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
0.99%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93