Goldman Sachs Provides $20M Loan For Multifamily & Development Site In Crown Heights
1035 Washington Avenue, Crown Heights, Brooklyn, NY, USA
$20,000,000
$170/SF
Building Size
117,250 SF
Asset Type
Mixed-use
Closing
Jun 20, 2021
AI
The multifamily property and development site located at 1035 Washington Avenue & 1 Sullivan Place in Crown Heights has been involved in a recent loan transaction. The loan, provided by Goldman Sachs, amounted to $20,000,000. The property spans 117,250 square feet and has a building square footage of 72,433. It consists of 104 units and is managed by United Management Corp.
Summary of transaction details
- Property Type: Multifamily & Development Site
- Transaction Amount: $20,000,000
- Address: 1035 Washington Avenue & 1 Sullivan Place, Crown Heights
- Market: Crown Heights
- Lender: Goldman Sachs
- Landlord: United Management Corp.
- Square Footage: 117,250
- Building Square Footage: 72,433
- Units: 104
The involvement of Goldman Sachs as the lender highlights their role in providing financial support for the property. United Management Corp. serves as the landlord for this multifamily and development site. The loan transaction with a significant amount of $20,000,000 further emphasizes the value and potential of this property.
Players
Brooklyn Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93