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:
- 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.
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