Rockfeld Group Secures $6.5M Refinancing Loan For Retail Properties In Sheepshead Bay, Brooklyn
1123 Kings Hwy Brooklyn, NY 11229, USA
$6,500,000
$283/SF
Building Size
22,942 SF
Asset Type
Retail
Closing
May 3, 2023
About this deal
AI
The Rockfeld Group, led by Steven Feldman, secured a refinancing loan of $6.5 million from Northfield Bank for seven properties in Sheepshead Bay, Brooklyn. The properties include retail buildings located at 1123 Kings Highway, 1103 Kings Highway, and 1101 Kings Highway. The total square footage of the retail space amounts to 22,942 square feet.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $6,500,000
- Market: Sheepshead Bay, Brooklyn
- Loan Type: Refinance
- Lender: Northfield Bank (William G. Krejci)
- Landlord: Rockfeld Group (Steven Feldman)
William G. Krejci, from Northfield Bank, served as the lender for this refinancing loan. The loan was obtained by Steven Feldman's Rockfeld Group for their retail properties on Kings Highway in Sheepshead Bay, Brooklyn.
On the Map
$6,500,000
$283/SF
Retail
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Players
Brooklyn Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.44%
Cash-on-Cash
-0.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93