Updated Dec 14, 2024
JLL Arranges $37M Refinance Loan For Co-living Multifamily Property In Williamsburg
186 North 6th Street, Brooklyn, New York 11211, United States
$37,000,000
$748/SF
Building Size
49,446 SF
Asset Type
MultiFamily
Closing
Apr 6, 2022
About this deal
AI
An $37,000,000 loan has been secured for the co-living multifamily property located at 186 N. 6th St. in Williamsburg. The property spans a total of 49,446 square feet.
Summary of transaction details
- Property Type: Co-living Multifamily
- Transaction Amount: $37,000,000
- Address: 186 N. 6th St.
- Market: Williamsburg
- Lender: Valley National Bank - Ann Wilhelm
- Brokers: Eliott Zeitoune, Marko Kazanjian, Max Herzog, Matt Fagella & Andrew Cohen - Jones Lange LaSalle (JLL)
- Loan Type: Refinance
The loan was facilitated by Valley National Bank, with Ann Wilhelm representing the bank. The brokers involved in the transaction were Eliott Zeitoune, Marko Kazanjian, Max Herzog, Matt Fagella, and Andrew Cohen from Jones Lange LaSalle (JLL).
On the Map
$37,000,000
$748/SF
MultiFamily
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Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.43%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93