Invesco Provides $45M Loan For Crown Heights Office Building On Dean St
1000 Dean Street
$45,000,000
$300/SF
Building Size
150,000 SF
Asset Type
Office
Closing
Nov 6, 2019
About this deal
AI
1000 Dean Street is a four-story, 150,769 rentable square foot creative office and lifestyle-oriented retail building located in Brooklyn's Crown Heights neighborhood, just south of Atlantic Avenue. The property is situated in a prime location in the vibrant borough of Brooklyn.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $45,000,000
- Address: 1000 Dean Street
- Market: Brooklyn, Crown Heights
Invesco provided a loan of $45,000,000 for the acquisition of 1000 Dean Street. The loan terms are undisclosed. The transaction involved Livwrk & Meadow Partners as the landlords. The brokerage firm JLL Capital Markets represented the parties involved in the deal.
Players
Brooklyn 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
0.35%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93