One Brooklyn Bridge Park – Retail & Parking Condominium
360 Furman Street, Brooklyn, NY, 11201-4574, US
15.649 vierkante meter
Beschrijving
Jones Lang LaSalle (“JLL”) has been retained on an exclusive basis to market the sale of a $39.0 Million Non-Performing Retail Loan (the “Loan” or “Note”) secured by the senior Mortgage on a retail condominium (the “Property”, “Collateral”, or “Retail Condo”) with a corner location with over 240 feet of wraparound frontage along 6th Avenue in New York City. Situated at the base of a ten-story, mixed use residential condominium building (the “Building”) originally constructed in 2008, the collateral for the Loan includes the first two floors, plus an additional subterranean level. The Property is 100% leased to three (3) high-quality tenants that are credit rated or are backed by institutional capital, with a WALT of 9.1 years. The Property benefits from being located within one of New York’s busiest Shopping Districts, with a traffic count of over 12 million vehicles annually.
The Loan being sold was originated in July 2015 with a 15-year term. A payment default has resulted in the Lender currently holding title through a deed-in-escrow that will be transferred to the successful note buyer. This offering presents investors with the unique opportunity to acquire the Loan at an attractive basis, collateralized by a 100% leased retail condominium, with a clear path to direct ownership.
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Kenmerken
Origination Date
July 2, 2015
Maturity Date
July 10, 2030
Original Loan Balance
$44,000,000
Original Loan Balance PSF
$1,572
Current Loan Balance
$38,957,934
Current Loan Balance PSF
$1,392
Bouwjaar
2008
Verhuurbare oppervlakte
2.600 vierkante meter
Bezettingspercentage
100%
Oproep voor aanbiedingen
30-09-2025
Media
Investeringskenmerken
Deed-in-Lieu
Investors will have a direct path to title through a deed-in-lieu, allowing investors to step into the Collateral at a discount to the Borrower’s original basis.
In-Place Cash Flow
The 100% leased Collateral benefits from having stable, in-place cash flow with a WALT of 9.1 years as of December 2025.
Valuable Corner Retail Frontage
The Collateral features approximately 240 feet of wraparound retail frontage along 6th Ave, one of New York’s busiest Shopping Districts, allowing for enhanced retail visibility and accessibility.
Dynamic Shopping Corridor Location
Situated along one of New York’s most prominent shopping corridors, the Collateral is ideally located within blocks of prominent big-box anchor tenants such as West Elm, The Container Store, Old Navy, Trader Joe’s, and Best Buy that help stabilize and drive customer demand by providing consistent foot traffic that benefits retail tenants throughout the corridor.
High Quality Tenants
The Collateral is occupied by three high quality tenants that are credit-rated or supported by institutional capital.
Excellent Accessibility Through Public Transportation
The Collateral is situated near multiple major transportation hubs, including 14th St. Union Square Station, 23rd St. Station, and 18th St. Station, which provide access to the 1, 4, 5, 6, F, L, M, N, Q, R, and W trains.
Contact adviseurs
$39.0 Million Non-Performing Retail Condo Loan | Deed-in-Lieu | 100.0% Leased | New York, NY (0 Eigendommen)
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Laatst bijgewerkt
3 sep 2025
