Signature Bank Provides $136.7M Refinance Loan For Brooklyn Retail Properties
248 Duffield Street, Brooklyn, New York 11201, United States
$136,700,000
Building Size
—
Asset Type
Retail
Closing
Mar 23, 2022
AI
An investment property portfolio in Brooklyn has secured a $136,700,000 loan for refinancing. The properties included in the loan deal are located at 248 Duffield Street, 100 Willoughby Street, 515 Ocean Avenue, 319 Canal Street, 655 6th Avenue, and 210 Joralemon Street. These properties, all of which are retail assets, are managed by United American Land, specifically Albert Laboz, Jason Laboz, and Jody Laboz.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $136,700,000
- Loan Type: Refinance
- Loan Terms: 10 years
The loan was secured from Signature Bank. Acting as brokers in the transaction were Cary Pollack and Charles Grussgott from Meridian Capital Group.
Players
New York Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.12%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93