Jeremy Levart Of Oak Funding Provides $16.5M Refinance For Retail Property In Brooklyn
12 Berry Street
$16,500,000
Building Size
—
Asset Type
Retail
Closing
Aug 12, 2026
About this deal
AI
The asset involved in this transaction is a retail property located at 12 Berry Street in Brooklyn. The loan amount for this refinance transaction is $16,500,000. This property serves as a hub for one of New York City's premier padel operators.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $16,500,000
- Lender: Jeremy Levart - Oak Funding
- Loan Type: Refinance
Jeremy Levart, representing Oak Funding, facilitated the closing of this refinance transaction secured by the aforementioned retail property. This transaction marks a significant financial agreement in the Brooklyn market, specifically tailored for a notable operator within the sporting sector.
On the Map
$16,500,000
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
0.96%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93