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81 Willoughby Street, Downt...

Updated Feb 16, 2024

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

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

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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Deal FAQ

About $284 per square foot on a published $21M for 73,860 square feet (2021).

Visit Albert Srour to view all their deals.

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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

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