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
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