FINANCEDDevelopment Site
Blue Sky Builders Secures $43 Million Construction Loan From Popular Bank For Gowanus Development Site
224 3rd Avenue
$43,000,000
Units
82
Asset Type
Development Site
Closing
Jan 28, 2026
AI
No summary available.
Players
Blue Sky BuildersLandlord
Brooklyn Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.37%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93