Mortar Group Acquires Office Building In Williamsburg, Brooklyn With $10.15M Construction Loan
FINANCED
$10,150,000
New York
See Similar DealsOffice
Financed 11/30/2022
FINANCED
Mortar Group Acquires Office Building In Williamsburg, Brooklyn With $10.15M Construction Loan
30 Bushwick Avenue, Brooklyn, New York 11211, United States
See Similar DealsOffice
Financed 11/30/2022
Summary
NEW YORK
Asset Type:Office
Transaction Type:Loan
Anthony Morena has secured a construction loan from DR Bank for the property located at 30 Bushwick Avenue in Williamsburg, Brooklyn. This office building, consisting of 21 units, will undergo construction with the help of the $10,150,000 loan.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $10,150,000
- Address: 30 Bushwick Avenue, Williamsburg, Brooklyn
- Market: Williamsburg, Brooklyn
- Lender: DR Bank
- Landlord: Mortar Group - Anthony Morena
Anthony Morena, represented by Mortar Group, is the landlord of this office building. The loan from DR Bank will enable the construction and development of the property, providing potential business opportunities and growth in Williamsburg, Brooklyn.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$10,150,000.00
Monthly NOI$67,666.67
Monthly Debt Service$64,154.90
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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