Square Mile Capital Management Provides $43M Loan For Retail Properties In Brooklyn
475 Marcy Avenue, Brooklyn, NY, USA
$43,000,000
$74/SF
Building Size
576,473 SF
Asset Type
Retail
Closing
Jun 29, 2021
About this deal
AI
The retail property located at 475 Marcy Avenue and 497 Marcy Avenue in Brooklyn has been involved in a loan transaction. The loan was provided by Square Mile Capital Management, in the amount of $43,000,000. The property spans a total square footage of 576,473. The landlord of the property is Acumen Capital Partners.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $43,000,000
- Address: 475 Marcy Avenue, 497 Marcy Avenue
- Market: Brooklyn
- Square Footage: 576,473
Square Mile Capital Management, a lending company, provided the loan for this transaction. Acumen Capital Partners, the landlord, was involved in facilitating this deal.
Players
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
0.37%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93