Read Property And Princeton Holdings Refinance Warehouse In Bushwick, Brooklyn For $100M
930 Flushing Ave, Brooklyn, NY 11206, USA
$100,000,000
$328/SF
Building Size
304,080 SF
Asset Type
Other
Closing
Apr 30, 2018
AI
The warehouse located at 930 Flushing Avenue in Bushwick, Brooklyn has been refinanced. The transaction, which took place on May 1, 2018, involved a loan amount of $100,000,000. This property asset is owned by Read Property, represented by Robert Wolf and Princeton Holdings, represented by Joseph Tabak.
Summary of transaction details
- Property Type: Warehouse
- Transaction Amount: $100,000,000
- Address: 930 Flushing Avenue, New York
- Market: Bushwick, Brooklyn
- Landlord: Read Property - Robert Wolf & Princeton Holdings - Joseph Tabak
- Lender: LoanCore Capital (subsidiary of GIC & CPPIB)
This refinancing deal involved LoanCore Capital as the lender. LoanCore Capital, a subsidiary of GIC and CPPIB, provided the loan to Read Property and Princeton Holdings for the warehouse at 930 Flushing Avenue. Joseph Tabak represented Princeton Holdings in this transaction.
Players
New York Other Market Snapshot
Boundary boundary · Other · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93