The Loketch Group Acquires Office Property On Spencer Street In Williamsburg, Brooklyn For $17M
18 Spencer St, Brooklyn, NY 11205, USA
$17,000,000
$28/SF
Building Size
590,000 SF
Asset Type
Office
Closing
Nov 17, 2019
About this deal
AI
The office property located at 18 Spencer Street in Williamsburg, Brooklyn has been involved in a closed property transaction. The property spans approximately 59,000 square feet and was sold for a loan amount of $17,000,000. The transaction took place on November 18, 2019.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $17,000,000
- Address: 18 Spencer Street, Williamsburg, Brooklyn
- Market: Williamsburg, Brooklyn
- Square Footage: 59,000
Pinny and Moishe Loketch, from The Loketch Group, were the owners of the property. The lender in the transaction was Bridge Investment Group. The mortgage broker involved in the deal was MERIDIAN CAPITAL GROUP, represented by Michael Neumann, Morris Betesh, and others.
Players
New York Office Market Snapshot
Boundary boundary · Office · Loan transactions
Loading comparables…
Deal FAQ
Visit Morris Dabbah to view all their deals.
Browse New York office loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.93%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93