facebook


Go ProSubmit a deal
Submit
Home

/

Deals

/

New York

/

Development Site

/

Loan

/

89 Maspeth Avenue

Updated Dec 4, 2024

Hudson Companies, St. Nicks Alliance Secure $235M Loan For Kingsland Commons Phase 2
FINANCEDDevelopment Site

Hudson Companies, St. Nicks Alliance Secure $235M Loan For Kingsland Commons Phase 2

89 Maspeth Avenue

$235,000,000

Building Size

—

Asset Type

Development Site

Closing

Jul 2, 2024

About this deal

AI

The development site located at 89 Maspeth Avenue in Williamsburg, Brooklyn, has attracted significant investment. The Hudson Companies and St. Nicks Alliance, supported by NYC agencies and private partners, have successfully secured a loan amounting to $235,000,000 for Kingsland Commons' second phase at the former Greenpoint Hospital Campus.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $235,000,000
  • Address: 89 Maspeth Avenue
  • Market: Williamsburg, Brooklyn
  • Landlord: Eric Enderlin - The Hudson Companies & St. Nicks Alliance

The collaboration between The Hudson Companies, St. Nicks Alliance, NYC agencies, and private partners showcases the strategic planning and financial acumen involved in securing the substantial loan for the development site. This partnership highlights a commitment to urban revitalization and property development, ensuring the successful continuation of the Kingsland Commons project in Williamsburg, BK.

On the Map

Open live map

$235,000,000

Development Site

View full map

Players

Bilt advertisement

Maspeth Development Site Market Snapshot

Boundary boundary · Development Site · Loan transactions

Loading comparables…

Deal FAQ

Browse New York development site loans on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.07%

Cash-on-Cash

-0.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

More Deals

Nearby Markets