Macy’s Inc. Secures $26.9M Loan For Retail Property In Mill Basin
FINANCED
$26,967,306
New York
See Similar DealsRetail23,982,500 SF
Financed 07/08/2020
FINANCED
Macy’s Inc. Secures $26.9M Loan For Retail Property In Mill Basin
5400 Avenue U, Brooklyn, NY 11234, USA
See Similar DealsRetail23,982,500 SF
Financed 07/08/2020
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$1
Total Square Footage:23,982,500 SF
Transaction Type:Loan
The retail property located at 5400 Avenue U in Mill Basin has been involved in a closed transaction. The property spans a total of 2,398,250 square feet and is owned by Macy's Inc. The deal was financed by U.S. Bank, with a loan amount of $26,967,306.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $26,967,306
- Address: 5400 Avenue U
- Market: Mill Basin
- Landlord: Macy's Inc.
- Lender: U.S. Bank
- Square Footage: 2,398,250
The key individuals and companies involved in this transaction include Macy's Inc. as the landlord and U.S. Bank as the lender. Jeff Gennette is the representative of Macy's Inc. in this deal, but no additional information is available regarding the parties involved.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$26,967,306.00
Monthly NOI$179,782.04
Monthly Debt Service$170,451.72
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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