Chetrit Group Secures $112M Loan For Brooklyn Heights Property
Hotel Bossert, 98 Montague St, Brooklyn, NY 11201, USA
$112,000,000
$59/SF
Building Size
1,872,000 SF
Asset Type
Other
Closing
Nov 25, 2019
About this deal
AI
The property asset involved in this transaction is located at 98 Montague Street in Brooklyn Heights. The property has a total square footage of 187,200. The lender in this transaction is Cantor Commercial Real Estate Lending (CCRE), and the loan amount for this deal is $112,000,000. The landlord of the property is the Chetrit Group.
Summary of transaction details:
- Property Type: N/A
- Transaction Amount: $112,000,000
- Address: 98 Montague Street
- Market: Brooklyn Heights
The key individuals and companies involved in this transaction include Joseph Chetrit from the Chetrit Group as the landlord's representative.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93