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180 Livingston St, Brooklyn...

MetLife Provides $92M Loan For Office & Retail Property At 180 Livingston St In Brooklyn
FINANCEDOffice

MetLife Provides $92M Loan For Office & Retail Property At 180 Livingston St In Brooklyn

180 Livingston St, Brooklyn, NY 11201, USA

$92,000,000

$344/SF

Building Size

267,226 SF

Asset Type

Office

Closing

Nov 18, 2019

AI

180 Livingston St, located in Brooklyn, was recently involved in a closed property transaction. The property is a combination of office and retail spaces, totaling 267,226 square feet. The deal was completed on November 19, 2019, with a loan amount of $92,000,000 provided by MetLife. The landlord of the property is Thor Equities. Dave Karson, Alex Hernandez, Alex Lapidus, and Emily Johansen from CushWake represented the brokers involved in the transaction.

Summary of transaction details:

  • Property Type: Office & Retail
  • Transaction Amount: $92,000,000
  • SF: 267,226
  • Date: 11/19/2019
  • Address: 180 Livingston St
  • Market: Brooklyn

Joe Sitt, Dave Karson, Alex Lapidus, and Emily Johansen were the key individuals involved in the transaction. Joe Sitt is the landlord of the property, representing Thor Equities. Dave Karson, Alex Hernandez, Alex Lapidus, and Emily Johansen from CushWake acted as the brokers in the deal.

Players

Alexander Hernandez

Cushman & Wakefield

Broker

$7.7B

vol

27 deals

Broker
Thor Equities
Thor EquitiesLandlord

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

0.17%

Cash-on-Cash

-0.05%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93