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81 Willoughby Street, Downt...

Signature Bank Provides $21M Refinance Loan For Office Building At 81 Willoughby Street In Downtown Brooklyn
FINANCEDOffice

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

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.

Players

Signature Bank
Signature BankLender

Albert Srour

Landlord

$107.3M

vol

8 deals

Landlord

New York 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

0.76%

Cash-on-Cash

-0.22%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93