Updated May 12, 2025
Madison Realty Capital Provides $50M Loan For Williamsburg Development Site
66 Gerry St, Brooklyn, NY 11206, USA
$50,000,000
Building Size
—
Asset Type
Development Site
Closing
May 21, 2019
About this deal
AI
The property involved in this transaction is a development site located at 58 and 66 Gerry Street and 25 and 33 Bartlett Street in Williamsburg, Brooklyn. The loan amount secured for this asset is $50,000,000.
Summary of transaction details:
- Property Type: Dev Site
- Transaction Amount: $50,000,000
- Market: Williamsburg, Brooklyn
- Lender: Madison Realty Capital
- Landlord: Abraham Brach
This deal features key individuals such as Josh Zegen, whose involvement is notable in relation to the transaction properties. His role is significant within the context of the secured loan and the entities involved.
On the Map
$50,000,000
Development Site
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Players
New York 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
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93