Signature Bank Provides $21M Refinance Loan For Office Building At 81 Willoughby Street In Downtown Brooklyn
81 Willoughby Street, Downtown Brooklyn, Brooklyn, NY, USA
$21,000,000
$284/SF
Building Size
73,860 SF
Asset Type
Office
Closing
Aug 16, 2021
About this deal
AI
Located at 81 Willoughby Street in Downtown Brooklyn, this office property spans approximately 73,860 square feet. The asset was recently involved in a refinance transaction.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $21,000,000
- Address: 81 Willoughby Street
- Market: Downtown Brooklyn
- Lender: Signature Bank
- Landlord: Albert Srour
Signature Bank provided a loan amount of $21,000,000 to refinance the office property on 81 Willoughby Street. Albert Srour acts as the landlord in this transaction.
The office loan at 81 Willoughby Street, Downtown Brooklyn, Brooklyn, NY, USA in New York, New York financed for $21M in 2021. The building is 73,860 square feet, implying about 284 per square foot on the published price. Named participants on the 81 Willoughby Street, Downtown Brooklyn, Brooklyn, NY, USA loan are Albert Srour. This page is the New York, New York file for the 81 Willoughby Street, Downtown Brooklyn, Brooklyn, NY, USA office financed: pricing, party profiles, and other closed office comps from the same New York sit in the Market section below. Filter that New York office set by closing date to see what else financed near 81 Willoughby Street, Downtown Brooklyn, Brooklyn, NY, USA around 2021. Published consideration for 81 Willoughby Street, Downtown Brooklyn, Brooklyn, NY, USA is $21M, dated 2021. Cite this Signature Bank Provides $21M Refinance Loan For Office Building At 81 Willoughby Street In Downtown Brooklyn loan when underwriting similar office product around New York, New York.
Players
New York Office Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.76%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93