Updated Oct 12, 2026
JEMB Realty And CanAm Capital Partners Secure $135M Construction Loan For Development Site In Windsor Terrace, Brooklyn
312 Coney Island Avenue, Brooklyn, New York 11218, United States
$135,000,000
Units
350
Asset Type
Development Site
Closing
Aug 2, 2022
About this deal
AI
The development site located at 312 Coney Island Avenue, 11 Ocean Parkway in Windsor Terrace has undergone a closed transaction. The property is a development site with a total of 350 units. The transaction was completed on 08/03/2022. The loan for this transaction was provided by Wells Fargo, in the amount of $135,000,000. The loan type for this transaction was construction.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $135,000,000
- Address: 312 Coney Island Avenue, 11 Ocean Parkway
- Market: Windsor Terrace
- Units: 350
The landlord involved in this transaction is JEMB Realty, represented by Morris Jerome and CanAm Capital Partners. They played a crucial role in facilitating this closed deal.
On the Map
$135,000,000
Development Site
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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
0.12%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93