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235 Duffield Street

Morris Bailey Of JEMB Realty Corporation Secures $125 Million Refinance Loan For Brooklyn Office
FINANCEDOffice

Morris Bailey Of JEMB Realty Corporation Secures $125 Million Refinance Loan For Brooklyn Office

235 Duffield Street

$125,000,000

$451/SF

Building Size

276,864 SF

Asset Type

Office

Closing

Dec 15, 2025

AI

The property asset involved in the transaction is an office located at 1 Willoughby Square, 235 Duffield Street in Brooklyn, featuring a total square footage of 276,864. The loan amount secured for this asset is $125,000,000 under a refinance agreement.

Summary of transaction details:

The key individuals involved in the deal include Christian Sewing, who is representing Deutsche Bank as the lender, and Morris Bailey, who serves as the landlord through JEMB Realty Corporation. The landlord's representation is facilitated by a team from Newmark including Jordan Roeschlaub, Nick Scribani, Max Ralby, and Chris Lozinak.

Players

Nick Scribani

Newmark

Broker

$55.9B

vol

198 deals

Broker
Newmark
NewmarkBrokerage
Deutsche Bank
Deutsche BankLender

Brooklyn 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

0.13%

Cash-on-Cash

-0.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93