Updated Mar 11, 2025
JPMorgan Chase Provides $364M Loan For Development Site At 346 Kent Avenue In Brooklyn
346 Kent Avenue, Brooklyn, New York 11249, United States
$364,000,000
Building Size
—
Asset Type
Development Site
Closing
Apr 17, 2023
About this deal
AI
A development site located at 346 Kent Avenue in Brooklyn has been involved in a closed transaction. The property, owned by Two Trees Management and represented by Jed Walentas, has attracted attention in the market. The loan for this transaction was provided by JPMorgan Chase, amounting to $364,000,000.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $364,000,000
- Address: 346 Kent Avenue
- Market: Brooklyn
- Lender: JPMorgan Chase
- Landlord: Two Trees Management - Jed Walentas
This transaction involves the collaboration of Two Trees Management, represented by Jed Walentas, and JPMorgan Chase as the lender. The property, located at 346 Kent Avenue in Brooklyn, is a development site that holds potential in the market.
On the Map
$364,000,000
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
0.04%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93