RedSky Capital Secures $221.8M Loan For Williamsburg Retail Portfolio With Lender JPMorgan
92 N 6th St #94, Brooklyn, NY 11249, USA
$221,800,000
$23,225/SF
Building Size
9,550 SF
Asset Type
Retail
Closing
Nov 28, 2020
About this deal
AI
RedSky Capital, a landlord and developer, recently closed a retail transaction in the Williamsburg neighborhood of Brooklyn. The property, located at 92-94 N 6th, 96-98 N 6th, 100-104 N 6th, 108-112 N 6th, 204-206 Bedford, 132 Bedford, 124-136 N 6th, and 184-192 Bedford, attracted a loan amount of $221,800,000. The deal was facilitated by JLL, with Jonathan Schwartz and Aaron Appel acting as representatives.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $221,800,000
- Address: 92-94 N 6th, 96-98 N 6th, 100-104 N 6th, 108-112 N 6th, 204-206 Bedford, 132 Bedford, 124-136 N 6th, and 184-192 Bedford
- Market: Williamsburg, Brooklyn
- Landlord/Developer: RedSky Capital
- Lender: JPMorgan
- Broker: JLL – Jonathan Schwartz & Aaron Appel
In this transaction, RedSky Capital secured a loan of $221,800,000 from JPMorgan for their retail property located in Williamsburg, Brooklyn. The property encompasses multiple addresses, including 92-94 N 6th, 96-98 N 6th, 100-104 N 6th, 108-112 N 6th, 204-206 Bedford, 132 Bedford, 124-136 N 6th, and 184-192 Bedford. The deal was successfully arranged by Jonathan Schwartz and Aaron Appel from JLL.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.07%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93