JLL Secures $176.5M Recapitalization Loan For Mixed-Use Property In Downtown Brooklyn
1 Boerum Place, Brooklyn, NY 11201, USA
$176,450,000
$909/SF
Building Size
194,000 SF
Asset Type
Mixed-use
Closing
Aug 23, 2021
About this deal
AI
A mixed-use property located at One Boerum Place in Downtown Brooklyn has recently undergone a recapitalization transaction. The property spans over 194,000 square feet and is situated in a bustling market.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $176,450,000
- Loan Type: Recapitalization
- Loan Terms: Senior + Mezzanine
The loan for this property was provided by quadreal''>QuadReal and Global Holdings Management Group. The landlord of the property is Avery Hall Investments, Aria Development, and Allegra Holdings. The deal was facilitated by brokers Christopher Peck, Peter Rotchford, and Alex Staikos from JLL.
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
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93