Related Companies & Apollo Global Management Provide Joint Venture Equity And Construction Loan For Mixed-Use Property In Gowanus, Brooklyn
267 Bond St Brooklyn, NY 11217, USA
$520,000,000
$1,139/SF
Building Size
456,301 SF
Asset Type
Mixed-use
Closing
May 19, 2023
About this deal
AI
Located in Gowanus, Brooklyn, the mixed-use property at 267 Bond Street and 510 Sackett Street recently underwent a closed transaction. With a total square footage of 456,301 and 517 units, this property offers a diverse range of spaces for both residential and commercial purposes. The market value of this property has been finalized, although there are no further details available regarding its features or characteristics.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $520,000,000
- Address: 267 Bond Street & 510 Sackett Street
- Market: Gowanus, Brooklyn
- Square Footage: 456,301
- Units: 517
The financial aspects of this transaction involve a joint venture equity and construction loan. The lenders for this deal are Related Companies and Apollo Global Management. On the landlord side, PMG and Carlyle are the involved parties. The brokerage services for this transaction were provided by Christopher Peck, Peter Rotchford, Nicco Lupo, Andrew Scandalios, Rob Hinckley, and Jeffrey Julien from JLL.
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
0.03%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93