GIC Acquires Retail Property In Williamsburg From JP Morgan For $145M
92 N 6th St, Williamsburg, Brooklyn, NY, USA
$145,000,000
$1,178/SF
Building Size
123,000 SF
Asset Type
Retail
Closing
Sep 1, 2021
About this deal
AI
JPMorgan has sold a portfolio of retail assets in Williamsburg for $145 million. The properties are located at 92, 102, 108, 110, 112, 124, and 134 North 6th St., as well as 132, 184, 186, 188, 190, 192, and 204 Bedford Ave. Spanning a total of 123,000 square feet, this retail portfolio transaction was completed on January 9, 2021. The buyer of these properties was GIC, while Newmark brokers Ariel Schuster, Brett Siegel, Evan Layne, Dustin Stolly, and Jordan Roeschlaub represented both the seller and buyer in the deal.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $145,000,000
- Square Footage: 123,000
- Market: Williamsburg
The portfolio sale involved key individuals such as Evan Layne, Dustin Stolly, Jamie Dimon, Jordan Roeschlaub, and Brett Siegel, who were present in the image shared on Instagram. It is noteworthy that JP Morgan was the seller, while GIC took on the role of the buyer in this senior loan sale.
Players
Brooklyn Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93