Cushman & Wakefield Secures $143M Construction Loan For Development Site On 5th Avenue Brooklyn

120 5th Avenue

$142,920,034

Building Size

—

Asset Type

Development Site

Closing

Oct 20, 2022

AI

The development site at 120 5th Avenue in Brooklyn has secured a construction loan from Sumitomo Mitsui Trust Bank. The property, owned by Senlac Ridge Partners and William Macklowe Company, is a development site with a buildable square footage (BSF) of 194,736.

Summary of transation details

Property Type: Development Site
Transaction Amount: $142,920,034
Lender: Sumitomo Mitsui Trust Bank
Landlord: Senlac Ridge Partners & William Macklowe Company

The loan amount of $142,920,034 is provided by Sumitomo Mitsui Trust Bank for the construction of the development site at 120 5th Avenue in Brooklyn. The property is owned by Senlac Ridge Partners and William Macklowe Company. The transaction was facilitated by the brokers Dan O’Brien, Adam Spies, Gideon Gil, and Lauren Kaufman from Cushman & Wakefield.

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