Rachel Brill Secures $33M Acquisition And Rehab Loan In Greenpoint, Brooklyn
99 Commercial Street
$33,000,000
$317/SF
Building Size
104,000 SF
Asset Type
Mixed-use
Closing
Jun 6, 2024
About this deal
AI
The mixed-use property located at 99 Commercial Street in Greenpoint, Brooklyn spans 104,000 square feet. The transaction involved an acquisition and rehab loan amounting to $33,000,000.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $33,000,000
- Address: 99 Commercial Street
- Market: Greenpoint, Brooklyn
- Lender: Andrew Waldman - 360 Capital Funding
- Landlord: Rachel Brill - Glacier Equities
- Broker: Max Ralby - Newmark
The deal was facilitated by Max Ralby from Newmark, representing the parties involved in the property transaction. The lender for the acquisition and rehab loan was Andrew Waldman from 360 Capital Funding, while the landlord of the property is Rachel Brill from Glacier Equities.
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
0.48%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93