Updated Nov 9, 2026
Maguire Capital Provides $133 Million Loan For Defaulted Note Sale On Brooklyn Commercial Asset
$133,000,000
$742/SF
Building Size
179,234 SF
Asset Type
Commercial
Closing
Oct 29, 2026
About this deal
AI
The asset involved in this transaction is a partially complete commercial building totaling 179,234 square feet located in the Brooklyn market. The loan associated with this property amounts to $133,000,000 and is classified as a defaulted note sale.
Summary of transaction details:
- Property Type: Commercial
- Transaction Amount: $133,000,000
- Lender: Maguire Capital
- Lender's Representative: Marvin Azrak
- Brokers: Michael Winter, Adam Hakim & James Murad
- Brokers' Agency: Ripco
- Collateral: Defaulted loan with a total accrued payoff of ~$133MM
This transaction features notable involvement from Ripco Real Estate's Debt & Structured Finance Division, which facilitated the sale of the defaulted loan. The brokers, Michael Winter, Adam Hakim, and James Murad, played a pivotal role in the execution of this deal.
Players
Market Commercial Market Snapshot
Boundary boundary · Commercial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.12%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93