G4 Capital Partners Provides $55M Construction Loan For Boutique Office Building In Williamsburg, Brooklyn
1 Wythe Avenue, Brooklyn, New York 11249, United States
$55,000,000
$611/SF
Building Size
90,000 SF
Asset Type
Office
Closing
May 11, 2022
AI
Located at 1 Wythe Ave. in Williamsburg, Brooklyn, this office property covers a total area of 90,000 square feet. The transaction, which took place on May 12, 2022, involved a loan for the development of a boutique office building.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $55,000,000
- Market: Williamsburg, Brooklyn
The loan was granted by G4 Capital Partners, with Jason Behfarin, Robyn Sorid, Meir Kessner, David Eisen, Robert Palumbo, Chris Goetz, and Charles Russell serving as lenders. The construction loan was facilitated by Meir Kessner and David Eisen, representing Sevenstone as brokers.
Players
New York Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.29%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93