Ladder Capital Finance Provides $28M Refinance Loan For East Williamsburg Office Building
314 Scholes Street, East Williamsburg, Brooklyn, NY, USA
$28,000,000
$326/SF
Building Size
85,897 SF
Asset Type
Office
Closing
Aug 6, 2020
AI
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.
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
0.57%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93