facebook
TradedTraded
    Home
    Search
    Closings
    Listings
    On Market
    Off Market
    Add a listing
    Vaults
    shh
    Rankings
    News
    Data
    Socials
    More


Messages

Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

New York

/

Self Storage

/

Loan

/

150 17th Street

Updated Dec 4, 2024

Bilt advertisement
PGIM Provides $83M Senior Loan For Self Storage Portfolio In Brooklyn & Queens
FINANCEDSelf Storage

PGIM Provides $83M Senior Loan For Self Storage Portfolio In Brooklyn & Queens

150 17th Street, 651 Utica Avenue, 1690 East New York Avenue & 87-16 121st Street

$83,000,000

$74/SF

Building Size

280,041 SF

Asset Type

Self Storage

Closing

Apr 12, 2024

About this deal

AI

Four properties located at 150 17th Street, 651 Utica Avenue, 1690 East New York Avenue, and 87-16 121st Street were involved in a recent closed transaction in Brooklyn and Queens. The asset type of these properties is self-storage, collectively spanning 280,041 square feet. The lending institution for this deal was PGIM, with The Carlyle Group acting as the landlord. The transaction was facilitated by brokers Rob Turner & Adam Licari from Eastdil Secured.

Summary of transaction details:

  • Property Type: Self Storage
  • Transaction Amount: $83,000,000
  • Address: 150 17th Street, 651 Utica Avenue, 1690 East New York Avenue, 87-16 121st Street
  • Market: Brooklyn & Queens

The individuals and companies central to this transaction included the lender, PGIM, and the landlord, The Carlyle Group. The deal's brokerage representation was handled by Rob Turner & Adam Licari from Eastdil Secured. No additional information was provided regarding the specific roles or details of the parties involved in the transaction.

Players

Rob Turner

Eastdil Secured

Broker

$12.1B

vol

30 deals

Broker
PGIM
PGIM Lender

Brooklyn Self Storage Market Snapshot

Boundary boundary · Self Storage · Loan transactions

Loading comparables…

Deal FAQ

About $74 per square foot on a published $83M for 1,120,164 square feet (2024).

Visit Adam Licari to view all their deals.

Browse Brooklyn self storage loans on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.19%

Cash-on-Cash

-0.05%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

More Deals

Nearby Markets