Bank Of America Provides $360M Construction Loan For Mixed-Use Property In Greenpoint, Brooklyn
FINANCED
$360,000,000
New York
See Similar DealsMixed-use570,074 SF
Financed 12/13/2022
FINANCED
Bank Of America Provides $360M Construction Loan For Mixed-Use Property In Greenpoint, Brooklyn
1 Java Street
See Similar DealsMixed-use570,074 SF
Financed 12/13/2022
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$631
Total Square Footage:570,074 SF
Transaction Type:Loan
Located at 1 Java Street in Greenpoint, Brooklyn, this mixed-use property encompasses a total of 570,074 square feet. The asset, owned by Lendlease, is a thriving space in the Greenpoint market.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $360,000,000
- Address: 1 Java Street
- Market: Greenpoint, Brooklyn
- Landlord: Lendlease
- Lender: Bank Of America
- Brokers: Christopher Peck & Alex Staikos - JLL
Christopher Peck and Alex Staikos from JLL acted as the brokers in this deal. They facilitated the transaction between the landlord, Lendlease, and the lender, Bank Of America. The loan was provided by Bank Of America and amounted to $360,000,000. This construction loan will contribute to the further development and enhancement of the property.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$360,000,000.00
Monthly NOI$2,400,000.00
Monthly Debt Service$2,275,444.88
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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