Goldman Sachs Provides $290M Loan For Mixed-Use Property In Jamaica
163-05 Archer Avenue
$290,000,000
$535/SF
Building Size
542,000 SF
Asset Type
Mixed-use
Closing
Oct 5, 2021
AI
The mixed-use property located at 163-05 Archer Avenue in Jamaica has been involved in a recent closed transaction. The property spans approximately 542,000 square feet and consists of 605 units. It is situated in the vibrant market of Jamaica.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $290,000,000
- Address: 163-05 Archer Avenue
- Market: Jamaica
- Total Square Footage: 542,000
- Number of Units: 605
The loan for this transaction was provided by Goldman Sachs. BRP Companies, represented by Geoff Flournoy and Meredith Marshall, acted as the landlords for the property. JLL served as the brokers involved in this deal.
Players
New York 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
0.05%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93