Updated Aug 31, 2026
Dolly Williams Of A. Williams Construction Secures $38.5M Loan From Madison Realty Capital For Brooklyn Project
213 3rd Avenue
$38,500,000
Units
80
Asset Type
Development Site
Closing
Jul 30, 2026
About this deal
AI
A development site located at 213 3rd Avenue in Gowanus, Brooklyn, secured a construction loan amounting to $38,500,000. The asset type includes an 80-unit residential project with a built square footage of 82,942.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $38,500,000
- Lender: Josh Zegen & Brian Shatz - Madison Realty Capital
- Landlord: Dolly Williams - A. Williams Construction
- Market: Gowanus, Brooklyn
- Loan Type: Construction
A. Williams Construction is the landlord involved in the transaction, while the lender, Madison Realty Capital, is represented by Josh Zegen and Brian Shatz. The funds will be allocated towards a residential project.
Players
Avon Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.41%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93