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184 West 237th Street, The ...

Northwestern Mutual Life Insurance Provides $82.5M Refinance Loan To Vanbarton Group In Kingsbridge Retail Transaction
FINANCEDRetail

Northwestern Mutual Life Insurance Provides $82.5M Refinance Loan To Vanbarton Group In Kingsbridge Retail Transaction

184 West 237th Street, The Bronx, New York 10463, United States

$82,500,000

$499/SF

Building Size

165,255 SF

Asset Type

Retail

Closing

Oct 9, 2022

AI

A loan transaction has taken place in Kingsbridge involving a retail property located at 184 & 193 West 237th Street. The property has a building square footage (BSF) of 450,558 and a total square footage (SF) of 165,255.

Summary of transation details

  • Property Type: Retail
  • Transaction Date: 10/10/2022
  • Address: 184 & 193 West 237th Street, Kingsbridge
  • BSF: 450,558
  • SF: 165,255

The lender involved in this loan transaction is Northwestern Mutual Life Insurance, with Brian D. Bennett representing the company. The loan amount for the refinance is $82,500,000. The landlord of the property is the Vanbarton Group, with Justin B. Kleinman as their representative.

Please note that no additional information was provided regarding this loan transaction.

Players

Vanbarton Group
Vanbarton GroupBrokerage
Northwestern Mutual
Northwestern Mutual Lender

Justin B. Kleinman

Vanbarton Group

Landlord

$92.4M

vol

2 deals

Landlord

New York 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

0.19%

Cash-on-Cash

-0.05%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93