facebook
Traded Co logo
Submit

Carlyle Group Acquires Development Site In Brownsville For $31.8M Loan From Santander Bank

Property Image
FINANCED
$31,845,000

New York

See Similar Deals
Development Site88,698 SF
Financed 08/19/2021
the dealplayerscompscontact
Property Image
FINANCED

Carlyle Group Acquires Development Site In Brownsville For $31.8M Loan From Santander Bank

1203 East New York Avenue, Ocean Hill, Brooklyn, NY, USA

See Similar Deals
Development Site88,698 SF
Financed 08/19/2021
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$359
Total Square Footage:88,698 SF
Transaction Type:Loan

A development site located at 1203 East New York Avenue in Brownsville has been involved in a recent loan transaction. The property has a buildable square footage (BSF) of 88,698 and is owned by Peterr Clare & Kewsong Lee of Carlyle Group. The loan, amounting to $31,845,000, was provided by Santander Bank and falls under the category of construction loans.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $31,845,000
  • Address: 1203 East New York Avenue
  • Market: Brownsville
  • Asset Type: Development Site
  • BSF: 88,698

Santander Bank acted as the lender for this transaction, providing financial support for the development of the property. Peterr Clare & Kewsong Lee, representing the Carlyle Group, served as the landlords in this deal.

Players

Carlyle Group
Carlyle Group
LENDER
Kewsong Lee
Carlyle Group
Kewsong Lee
6 deals$211.6M volume
LANDLORD
Carlyle Group
Carlyle Group
LANDLORD

Details

FINANCED
IMAGE: Peterr Clare & Kewsong Lee DATE: 08/19/2021 ADDRESS: 1203 East New York Avenue MARKET: Brownsville ASSET TYPE: Development Site ~ BSF: 88,698 LENDER: Santander Bank LANDLORD: Peterr Clare & Kewsong Lee - Carlyle Group LOAN AMOUNT: $31,845,000 LOAN TYPE: Construction

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$31,845,000.00

Monthly NOI$212,300.00
Monthly Debt Service$201,282.06
Change in Cash Flow$0.00
Refinance Proceeds$0.00