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2829 West 21st Street

Jake Lapidot Of Cooper Horowitz Secures $10.05M Refinance For Self Storage In Brooklyn
FINANCEDSelf Storage

Jake Lapidot Of Cooper Horowitz Secures $10.05M Refinance For Self Storage In Brooklyn

2829 West 21st Street

$10,050,000

$143/SF

Building Size

70,000 SF

Asset Type

Self Storage

Closing

Nov 21, 2024

AI

The property involved in the transaction is a self-storage facility located at 2829 West 21st Street in Brooklyn. The asset spans 70,000 square feet and has a loan amount of $10,050,000, which is a refinance loan.

Summary of transaction details:

  • Property Type: Self Storage
  • Transaction Amount: $10,050,000
  • Address: 2829 West 21st Street
  • Market: Brooklyn
  • Asset Size: 70,000 SF
  • Loan Type: Refinance

Jake Lapidot from Cooper Horowitz represents the broker in this transaction. He was instrumental in facilitating the refinance loan for the property.

Players

Jake Lapidot

Institutional Property Advisors

Broker

$298.5M

vol

19 deals

Broker

Brooklyn Self Storage Market Snapshot

Boundary boundary · Self Storage · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.58%

Cash-on-Cash

-0.45%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93