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L3 Capital Secures $30M Mortgage For Retail Sites In Brooklyn
FINANCED
$30,000,000
New York
See Similar DealsRetail
Financed 03/20/2024
FINANCED
L3 Capital Secures $30M Mortgage For Retail Sites In Brooklyn
81 North 6th Street, 85 North 6th Street, 89 North 6th Street & 91 North 6th Street
See Similar DealsRetail
Financed 03/20/2024
Summary
NEW YORK
Asset Type:Retail
Transaction Type:Loan
A Chicago-based firm, L3 Capital, has secured a $30 million mortgage from Ladder Capital Corp. for four sites located at 81, 85, 89, and 91 N. Sixth St. in Williamsburg, Brooklyn.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $30,000,000
- Address: 81, 85, 89 & 91 North 6th Street
- Market: Brooklyn
- Lender: Domenic Lanni - L3 Capital
- Landlord: Brian Harris - Ladder Capital Corp
The loan was facilitated by Domenic Lanni from L3 Capital representing the borrower, while Brian Harris from Ladder Capital Corp acted as the landlord in the transaction.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$30,000,000.00
Monthly NOI$200,000.00
Monthly Debt Service$189,620.41
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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