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
About this deal
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:
- Property Type: Mixed-use
- Transaction Amount: $17,700,000
- Address: 658 Driggs Ave.
- Market: Williamsburg, Brooklyn
- Landlord: Dr. Robert Li
- Brokers: Ethan Stanton, Marko Kazanjian, Andrew Cohen, Matt Fagella & Max Herzog - JLL
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.
On the Map
$14,000,000
$741/SF
Mixed-use
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Players
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