Mortar Group Acquires Office Building In Williamsburg, Brooklyn With $10.15M Construction Loan
30 Bushwick Avenue, Brooklyn, New York 11211, United States
$10,150,000
Building Size
—
Asset Type
Office
Closing
Nov 30, 2022
AI
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.
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
1.56%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93