Andrew Marcus Secures $1.25M Acquisition Loan For Mixed-Use Asset In Williamsburg
666 Grand Street
$1,250,000
$208/SF
Building Size
6,000 SF
Asset Type
Mixed-use
Closing
Apr 16, 2024
AI
The mixed-use property located at 666 Grand Street in Williamsburg, Brooklyn spans 6,000 square feet. The recent transaction involved an acquisition loan from Sage Usher of Ushjo, amounting to $1,250,000. The landlord for this property is Jay Walker, with Andrew Marcus from Dansker Capital Group acting as the broker in the deal.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $1,250,000
- Address: 666 Grand Street
- Market: Williamsburg, Brooklyn
- Lender: Sage Usher - Ushjo
- Landlord: Jay Walker
- Broker: Andrew Marcus - Dansker Capital Group
Sage Usher from Ushjo provided the acquisition loan for the property, and Jay Walker is the landlord overseeing this mixed-use asset. Andrew Marcus represented the parties involved in the transaction as the broker from Dansker Capital Group.
Players
Brooklyn 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
12.69%
Cash-on-Cash
-3.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93