Newmark Brokers Refinance Loan On Williamsburg Office Property For $178M
FINANCED
$178,000,000
+ 3
New York
See Similar DealsOffice511,161 SF
Financed 03/04/2022
FINANCED
Newmark Brokers Refinance Loan On Williamsburg Office Property For $178M
25 Kent Avenue, Brooklyn, New York 11249, United States
See Similar DealsOffice511,161 SF
Financed 03/04/2022
+ 3
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$348
Total Square Footage:511,161 SF
Transaction Type:Loan
Located at 25 Kent Ave in Williamsburg, this office property spans a total of 511,161 square feet. The asset was recently involved in a closed transaction.
Summary of transation details
- Property Type: Office
- Transaction Amount: $178,000,000
- Loan Type: Refinance
The loan for this transaction was provided by Apollo, represented by Marc Rowan and Scott Weiner. Rubenstein Partners, with David Rubenstein as the landlord, was the recipient of the loan. Newmark brokers Dustin Stolly, Jordan Roeschlaub, Chris Kramer, Daniel Fromm, and Nick Scribani were involved in facilitating this transaction.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$178,000,000.00
Monthly NOI$1,186,666.67
Monthly Debt Service$1,125,081.08
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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