George Gleason, David J. Wine, Randy Bekerman, TreyClark And Robert Levine Acquire Brooklyn Bridge Park, Pier 6 For Residential Condos/Rentals
Brooklyn Bridge Park - Pier 6 - Beach Volleyball Courts, Brooklyn Bridge Park Greenway, Brooklyn, NY 11201, USA & Brooklyn Bridge Park - Pier 6 - Beach Volleyball Courts, Brooklyn Bridge Park Greenway, Brooklyn, NY 11201, USA
$411,000,000
$277/SF
Building Size
739,420 SF
Asset Type
—
Closing
Apr 18, 2018
About this deal
AI
Brooklyn Bridge Park, Pier 6 was recently involved in a closed property transaction. The property is a residential asset consisting of condos and rentals. The deal was financed through construction financing and joint venture equity.
Summary of transaction details
- Property Type: Residential Condos/Rentals
- Transaction Amount: Not mentioned
- Developers: RAL Companies – Robert Levine, Vanke U.S. – Randy Bekerman & TreyClark, and Oliver’s Realty Group – David J. Wine
- Lender: Bank of [...]
The key individuals and companies involved in this deal include Robert Levine from RAL Companies, Randy Bekerman and TreyClark from Vanke U.S., and David J. Wine from Oliver’s Realty Group.
Players
Brooklyn CRE Market Snapshot
Boundary boundary · CRE · Loan transactions
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Deal FAQ
About $277 per square foot on a published $411M for 1,478,840 square feet (2018).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.04%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93