Updated Dec 17, 2025
Miki Naftali & David Hochfelder Landlords Secured $525M Construction Loan At 470 Kent Avenue
470 Kent Avenue
$525,000,000
$875/SF
Building Size
600,000 SF
Asset Type
Development Site
Closing
Dec 14, 2025
About this deal
AI
The property asset involved in this transaction is a development site located at 470 Kent Avenue in Brooklyn, valued at 600,000 square feet. The total loan amount provided for this construction is $525,000,000.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $525,000,000
- Lender: Aaron Casden - JP Morgan & Sam Friedland - GoldenTree
- Landlord: Miki Naftali & David Hochfelder - Naftali Group; Jonah Sonnenborn & Len Blavatnik - Access Industries
- Brokers: Keith Kurland & Aaron Appel - Walker & Dunlop
- Loan Type: Construction
The key individuals involved in this transaction include Aaron Casden of JP Morgan and Sam Friedland of GoldenTree as lenders. Miki Naftali and David Hochfelder from Naftali Group, along with Jonah Sonnenborn and Len Blavatnik from Access Industries, represent the landlord interests. The brokerage services were provided by Keith Kurland and Aaron Appel from Walker & Dunlop.
On the Map
$525,000,000
$875/SF
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
0.03%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93