Argentic Provides $30.5M Loan For Office Building Purchase In Greenpoint And Long Island City
74 Kent St, Brooklyn, NY 11222, USA
$30,500,000
$46/SF
Building Size
650,000 SF
Asset Type
Office
Closing
Nov 18, 2019
About this deal
AI
The Caerus Group has secured a loan amount of $30,500,000 from Argentic for the acquisition of the office asset located at 74 Kent Street in Greenpoint, Brooklyn and 11-20 46th Road in Long Island City, Queens. Spanning across 65,000 square feet, this office property showcases an impressive space for business operations.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $30,500,000
- Address: 74 Kent Street, 11-20 46th Road
- Market: Greenpoint, Brooklyn & Long Island City, Queens
The lending services were provided by Argentic to facilitate the acquisition by the Caerus Group. The Newmark Knight Frank team, comprising Dustin Stolly, Jordan Roeschlaub, and Daniel Fromm, represented all parties involved in this office deal.
On the Map
$30,500,000
$46/SF
Office
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.52%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93