Quinlan Development Group Secures $23.5M Acquisition Loan From Mavik Capital For 130 Saint Felix Street

The transaction involves a development site located at 130 Saint Felix Street in the Fort Greene market of Brooklyn. The acquisition loan closed at $23,500,000 and is associated with a building square footage of 125,190. The asset's funding was secured through a loan from Mavik Capital, and it was previously acquired from Gotham Organization for $17,000,000.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $23,500,000
• Address: 130 Saint Felix Street
• Market: Fort Greene, Brooklyn
• Building Square Footage: 125,190
• Lender: Mavik Capital
• Landlord: Robert C. Quinlan - Quinlan Development Group
• Previous Owner: Gotham Organization
• Previous Sale Price: $17,000,000
• Loan Type: Acquisition

Quinlan Development Group, represented by 130 St. Felix Owner LLC, is involved in this deal, marking a significant step in their planned ground-up development activities at the site. The loan from Mavik Capital Management will facilitate the advancement of their development plans.