Laboz Family Secures $25.25M Loan For Office Property In Downtown Brooklyn
80 Willoughby Street, Downtown Brooklyn, Brooklyn, NY, USA
$25,250,000
Building Size
—
Asset Type
Office
Closing
Mar 5, 2021
About this deal
AI
The Laboz Family's United American Land has secured a loan of $25,250,000 from Sterling National Bank for an office property located at 80 Willoughby Street in Downtown Brooklyn. The property, with its prime location in the bustling market of Downtown Brooklyn, presents a valuable investment opportunity.
Summary of transaction details
- Property Type: Office
- Loan Amount: $25,250,000
- Lender: Sterling National Bank
- Landlord: Laboz Family - United American Land
Sterling National Bank, a reputable financial institution, serves as the lender in this transaction, providing the necessary funds for the Laboz Family's United American Land. The Laboz Family, known for their expertise in the real estate industry, acts as the landlord for this office property. With the successful loan acquisition, the Laboz Family is well-positioned to further develop and enhance the property's value in the competitive office market of Downtown Brooklyn.
On the Map
$25,250,000
Office
View full map
Players
New York Office Market Snapshot
Boundary boundary · Office · Loan transactions
Loading comparables…
Deal FAQ
Browse New York office loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93