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314 Scholes Street, East Wi...

Ladder Capital Finance Provides $28M Refinance Loan For East Williamsburg Office Building
FINANCEDOffice

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

Ladder Capital
Ladder CapitalLender

David Kramer

The Hudson Companies

Landlord

$678.8M

vol

11 deals

Landlord

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