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272 Metropolitan Ave, Brook...

JLL Represents Dr. Robert Li In $17.7M Acquisition Loan For Mixed-Use Property On Driggs Ave
FINANCEDMixed-use

JLL Represents Dr. Robert Li In $17.7M Acquisition Loan For Mixed-Use Property On Driggs Ave

272 Metropolitan Ave, Brooklyn, Ny 11211, Usa

$14,000,000

$741/SF

Building Size

18,887 SF

Asset Type

Mixed-use

Closing

Jun 25, 2019

AI

The property involved in this transaction is a mixed-use asset located at 658 Driggs Ave. in the Williamsburg neighborhood of Brooklyn. It spans a total square footage of 18,980 and is associated with a loan amount of $17,700,000, designated for acquisition purposes.

Summary of transaction details:

The transaction was facilitated by a team of brokers from JLL, including Ethan Stanton, Marko Kazanjian, Andrew Cohen, Matt Fagella, and Max Herzog, representing the landlord Dr. Robert Li in this acquisition deal.

Players

Ethan Stanton

JLL

Broker

$6.2B

vol

136 deals

Broker
Metropolitan Commercial Bank
Metropolitan Commercial BankLender

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

1.13%

Cash-on-Cash

-0.32%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93