NORTH WILLIAMSBURG
LOAN AMOUNT
$38,000,000
BROOKLYN, NY
BRIDGE LENDING
OFFICE SPACE
THE PROJECT
The Borrower was seeking to refinance an existing 3-story, elevatored mixed-used (office/retail) building that’s currently being gut-renovated located in North Williamsburg, Brooklyn. The Property is a well-positioned in a high-traffic, densely populated commercial area in North Williamsburg right near the East River, with 3/5 leases in place at the time of the transaction.
BORROWER CREDENTIAL
Borrower has 20+ years of experience in real estate with a large portfolio of stabilized assets and several projects under construction.
TRANSACTION KEY TERMS
Closing Date Febrary 2019
Loan Type Senior Mortgage
Loan Amount $38,000,000
Term 12 Months *6-Month Extension Option
Location Brooklyn, NY
Property Type Office/Retail Conversion
Gross Square Footage 41,177 sq ft +11,230 sq ft Basement
NORTH WILLIAMSBURG IN THE PRESS
EXPLORE JLJ CAPITAL'S LENDING PROGRAMS
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