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

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FINANCED
$21,000,000

New York

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Office73,860 SF
Financed 08/17/2021
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Property Image
FINANCED

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

81 Willoughby Street, Downtown Brooklyn, Brooklyn, NY, USA

See Similar Deals
Office73,860 SF
Financed 08/17/2021
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Summary

NEW YORK
Asset Type:Office
Price Per Square Foot:$284
Total Square Footage:73,860 SF
Transaction Type:Loan

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

LENDER

8 deals$107.3M volume
LANDLORD

Details

FINANCED
IMAGE: 08/17/2021 ADDRESS: 81 Willoughby Street MARKET: Downtown Brooklyn ASSET TYPE: Office ~ SF: 73,860 LENDER: Signature Bank LANDLORD: Albert Srour LOAN AMOUNT: $21,000,000 LOAN TYPE: Refinance

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$21,000,000.00

Monthly NOI$140,000.00
Monthly Debt Service$132,734.28
Change in Cash Flow$0.00
Refinance Proceeds$0.00