Updated Sep 30, 2025
Goldman Sachs Provides $190M Construction Loan For Development Site In Mott Haven
2401 Third Avenue, Port Morris, The Bronx, NY, USA
$190,000,000
$423/SF
Building Size
448,890 SF
Asset Type
Development Site
Closing
Feb 2, 2021
About this deal
AI
The development site located at 2401 Third Avenue and 101 Lincoln Avenue in Mott Haven has undergone a recent transaction. The property, with a total of 1,350 units, was involved in a loan deal.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $190,000,000
- Address: 2401 Third Avenue, 101 Lincoln Avenue
- Market: Mott Haven
- Lender: Goldman Sachs
- Landlord: Brookfield Properties
The loan deal was facilitated by Goldman Sachs, providing a construction loan of $190,000,000. Brookfield Properties acted as the landlord in this transaction.
Players
Bronx 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
0.08%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93