Ladder Capital Finance Provides $28M Refinance Loan For East Williamsburg Office Building
FINANCED
$28,000,000
New York
See Similar DealsOffice85,897 SF
Financed 08/06/2020
FINANCED
Ladder Capital Finance Provides $28M Refinance Loan For East Williamsburg Office Building
314 Scholes Street, East Williamsburg, Brooklyn, NY, USA
See Similar DealsOffice85,897 SF
Financed 08/06/2020
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$326
Total Square Footage:85,897 SF
Transaction Type:Loan
Located at 314 Scholes Street in East Williamsburg, this office property recently underwent a refinancing transaction. The loan, amounting to $28,000,000, was secured through Ladder Capital Finance. Brian Harris and Pamela McCormack represented Ladder Capital Finance in the deal. The Hudson Companies Inc., represented by David Kramer, served as the landlord in this transaction.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $28,000,000
- Lender: Ladder Capital Finance - Brian Harris & Pamela McCormack
- Landlord: The Hudson Companies Inc. - David Kramer
The refinancing deal for the office property at 314 Scholes Street was facilitated by Brian Harris and Pamela McCormack from Ladder Capital Finance. The Hudson Companies Inc., represented by David Kramer as the landlord, also played a significant role in the transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$28,000,000.00
Monthly NOI$186,666.67
Monthly Debt Service$176,979.05
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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