Updated Nov 4, 2025
Investmates Receives $81 Million Construction Loan From Shawn Safdie For Development Site In Brooklyn
29 Clay Street
$81,000,000
$692/SF
Building Size
117,000 SF
Asset Type
Development Site
Closing
Oct 28, 2025
About this deal
AI
A development site located at 29 Clay Street in Brooklyn has been involved in a loan transaction. The property features a total building size of 117,000 square feet and is categorized under the asset type of development site.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $81,000,000
- Lender: Shawn Safdie
- Landlord: Investmates - Koby Telyas & Idan Shitrit
- Attorney: Simon Malinowski, Esq.
- Loan Type: Construction
- Loan Terms: 2 years
The individuals involved in the transaction include the lenders and representatives of the landlord. Koby Telyas and Idan Shitrit represent Investmates in this deal, highlighting their role as key stakeholders. The legal representation for this transaction is provided by attorney Simon Malinowski, Esq.
On the Map
$81,000,000
$692/SF
Development Site
View full map
Players
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
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93