Northmarq Brokers Secure $77M Loan For Retail And Office Assets In Brooklyn And Long Island
345 Adams Street
$77,000,000
Building Size
—
Asset Type
Office
Closing
Nov 28, 2022
About this deal
AI
Ernest DesRochers, Charles Cotsalas, and Robert Delitsky of Northmarq facilitated a refinancing deal for a retail and office property portfolio located at 445 Broadhollow Rd, 345 Adams St, 801 Axinn Ave, 1010 Franklin Ave, and 1050 Franklin Ave. The transaction took place in Brooklyn and Long Island.
Summary of transaction details
- Property Type: Retail & Office
- Transaction Amount: $77,000,000
- Loan Type: Refinance
The loan, amounting to $77,000,000, was successfully refinanced for the portfolio mentioned above. Ernest DesRochers, Charles Cotsalas, and Robert Delitsky, representing Northmarq, were instrumental in the deal. The properties involved are located at 445 Broadhollow Rd, 345 Adams St, 801 Axinn Ave, 1010 Franklin Ave, and 1050 Franklin Ave.
On the Map
$77,000,000
Office
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93