RXR Realty Secures $225M Refinance Loan For Downtown Brooklyn Rental Building
196 Willoughby Street & 152 Ashland Place
$225,000,000
$336/SF
Building Size
334,759 SF
Asset Type
Condo
Closing
Sep 28, 2023
About this deal
AI
RXR Realty, represented by RXR 196 Willoughby Owner LLC, has secured a $225 million refinance loan from Apollo Global Management for two properties in Downtown Brooklyn. The properties are "the Willoughby" at 196 Willoughby Street, a rental building, and the Long Island University building at 152 Ashland Place. The loan was obtained through the entity Athene Annuity And Life Company, with Jeffrey Horowitz serving as the lender.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $225,000,000
- Square Footage: 334,759
- Address: 196 Willoughby Street & 152 Ashland Place
- Market: Downtown Brooklyn
- Landlord: Scott Rechler & Michael Maturo - RXR Realty
Scott Rechler and Michael Maturo, representing RXR Realty, were the landlords involved in the transaction. They secured the refinance loan from Apollo Global Management, a leading investment management firm. The loan will provide RXR Realty with the necessary funds for their properties, ensuring continued operation and growth in Downtown Brooklyn.
On the Map
$225,000,000
$336/SF
Condo
View full map
Players
Brooklyn Condo Market Snapshot
Boundary boundary · Condo · Loan transactions
Loading comparables…
Deal FAQ
Visit Scott Rechler to view all their deals.
Browse Brooklyn condo loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.07%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93