Deutsche Bank Provides $71M Loan For Rental Property In East Williamsburg, Brooklyn
120 Union Avenue, Brooklyn, NY 11206, USA
$71,000,000
$826/SF
Building Size
85,902 SF
Asset Type
Other
Closing
Aug 26, 2018
About this deal
AI
Adam America Real Estate and Slate Property Group have secured a $71 million loan from Deutsche Bank for their rental property located at 120 Union Avenue, in East Williamsburg, Brooklyn. The loan was finalized on August 27, 2018.
Summary of transation details
- Property Type: Rental
- Transaction Amount: $71,000,000
- Market: East Williamsburg, Brooklyn
- City: New York
The loan was facilitated by Adi Chugh's Maverick Commercial Properties, serving as the broker for the deal. The key individuals involved in the transaction include Adi Chugh from Maverick Commercial Properties, David Schwartz from Slate Property Group, and Dvir Cohen Hoshen and Martin Nussbaum from Adam America Real Estate.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.22%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93