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Richard Sutton Of Parallel CRE Secures $32M Construction Loan For 130000 SF Office In Brooklyn

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FINANCED
$32,000,000

Ohio

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Retail137,075 SF
Financed 07/06/2025
the dealplayerscompscontact
Property Image
FINANCED

Richard Sutton Of Parallel CRE Secures $32M Construction Loan For 130000 SF Office In Brooklyn

Retail137,075 SF
Financed 07/06/2025
the dealplayerscompscontact
Contact now

Summary

Asset Type:Retail
Price Per Square Foot:$233
Total Square Footage:137,075 SF
Transaction Type:Loan

The asset involved in this transaction is an office space located in Brooklyn, comprising a total square footage of 130,000. The loan amount secured for this property is $32,000,000, classified as a construction loan with a term of 3 years.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $32,000,000
  • Loan Type: Construction
  • Loan Terms: 3 Years
  • Market: Brooklyn
  • Asset Size: 130,000 SF
  • Broker: Richard Sutton - Parallel CRE

The key individual representing this transaction is Richard Sutton, who operates under Parallel CRE. The company utilizes extensive lender relationships and an innovative system to provide tailored real estate financing solutions for clients.

Players

Richard Sutton
Parallel CRE
Richard Sutton
13 deals$694.8M volume
BROKER
Parallel CRE
Parallel CRE
BROKERAGE

Details

FINANCED
IMAGE: Richard Sutton DATE: 7/01/2025 MARKET: Brooklyn ASSET TYPE: Office ~ SF: 130,000 BROKER: Richard Sutton (@Rich_Sutt) - Parallel CRE (@Parallel_CRE) LOAN AMOUNT: $32,000,000 LOAN TYPE: Construction LOAN TERMS: 3 Years NOTE FROM BROKER: Parallel CRE utilizes its extensive lender relationships, innovative system and unique model to offer clients the best real estate financing solution. Learn why many clients are using Parallel CRE: parallelcre.com Reach out to learn how we are different: - Richard Sutton - [email protected] - 917-626-3406

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$32,000,000.00

Monthly NOI$213,333.33
Monthly Debt Service$202,261.77
Change in Cash Flow$0.00
Refinance Proceeds$0.00