Property Markets Group Acquires Development Site In Gowanus, Brooklyn For $59.5M Loan
FINANCED
$18,500,000
New York
See Similar DealsDevelopment Site100,251 SF
Financed 03/12/2021
FINANCED
Property Markets Group Acquires Development Site In Gowanus, Brooklyn For $59.5M Loan
267 Bond Street, Brooklyn, NY, USA
See Similar DealsDevelopment Site100,251 SF
Financed 03/12/2021
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$184
Total Square Footage:100,251 SF
Transaction Type:Loan
The development site at 495, 498-510 Sackett Street & 267 Bond Street in Gowanus, Brooklyn has been involved in a closed transaction. The property, with a building square footage (BSF) of 490,000, is a development site located in the Gowanus neighborhood of Brooklyn.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $59,500,000
- Address: 495, 498-510 Sackett Street & 267 Bond Street
- Market: Gowanus, Brooklyn
- BSF: 490,000
The loan for this transaction was provided by Maxim Capital Group. Adam Glick, Jason Bordenick, and Josh Greene represented Maxim Capital Group as lenders. The loan amount for the transaction was $59,500,000, and it was a construction loan.
The landlord in this deal was Property Markets Group. Kevin Maloney, Ryan Shear, and Daniel Kaplan represented Property Markets Group as the landlords.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$18,500,000.00
Monthly NOI$123,333.33
Monthly Debt Service$116,932.58
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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