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Newmark Brokers $90M Refinance Loan For Retail Property In Williamsburg Brooklyn

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FINANCED
$90,000,000

New York

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Retail
Financed 09/08/2023
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Property Image
FINANCED

Newmark Brokers $90M Refinance Loan For Retail Property In Williamsburg Brooklyn

240 Bedford Ave Brooklyn, NY 11249, USA

See Similar Deals
Retail
Financed 09/08/2023
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Summary

NEW YORK
Asset Type:Retail
Transaction Type:Loan

The retail property located at 240 Bedford Avenue in Williamsburg, Brooklyn has undergone a refinancing transaction. The loan amount involved in this deal is $90,000,000. The property is owned by Bobby Cayre of Aurora Capital Associates, Joseph Cayre of Midtown Equities, and Alex Adjmi of ACHS Capital Management. The lender for this transaction is Mark Rowan of Apollo. The property is situated in the bustling market of Williamsburg, Brooklyn.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $90,000,000
  • Address: 240 Bedford Avenue, Williamsburg, Brooklyn
  • Market: Williamsburg, Brooklyn
  • Loan Type: Refinance
  • Lender: Mark Rowan - Apollo
  • Landlords: Bobby Cayre - Aurora Capital Associates, Joseph Cayre - Midtown Equities, Alex Adjmi - ACHS Capital Management

The deal was facilitated by brokers Jordan Roeschlaub, Dustin Stolly, and Daniel Fromm from Newmark. These individuals played a crucial role in connecting the parties involved and ensuring a successful refinancing transaction for the retail property at 240 Bedford Avenue in Williamsburg, Brooklyn.

Players

Dustin Stolly
264 deals$49.1B volume
BROKER

Daniel Fromm
Newmark
82 deals$5.3B volume
BROKER

Jordan (Jordy) Roeschlaub
Newmark
321 deals$96.2B volume
BROKER

Apollo Bank
LENDER

Details

FINANCED
IMAGE: Jordan Roeschlaub, Dustin Stolly, Bobby Cayre, Daniel Fromm, Joseph Cayre, Mark Rowan & Alex Adjmi DATE: 09/08/2023 ADDRESS: 240 Bedford Avenue MARKET: Williamsburg, Brooklyn ASSET TYPE: Retail LENDER: Mark Rowan - Apollo LANDLORD: Bobby Cayre - Aurora Capital Associates, Joseph Cayre - Midtown Equities & Alex Adjmi - ACHS Capital Management BROKERS: Jordan Roeschlaub (@JordyRoeschlaub), Dustin Stolly & Daniel Fromm (@Ddwb) - Newmark (@Newmark) LOAN AMOUNT: $90,000,000 LOAN TYPE: Refinance

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$90,000,000.00

Monthly NOI$600,000.00
Monthly Debt Service$568,861.22
Change in Cash Flow$0.00
Refinance Proceeds$0.00