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499 President Street
FINANCED

JLL Closes $80M Land Recapitalization And Equity Capitalization In Gowanus, Brooklyn

499 President Street

Mixed-use
321,364 SF
clock iconFinanced 1 year ago
Jonathan Faxon
Nicco Lupo
Christopher (Chris) Peck
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Summary

Loan
NEW YORK
Mixed-use
321,364 sqft

On April 28, 2023, a significant transaction took place in Gowanus, Brooklyn. The property involved in this deal is a mixed-use asset located at 499 President Street. It spans 321,364 square feet and comprises 350 units. The transaction, which was a recapitalization, amounted to $80,000,000.

Summary of Transaction Details:

  • Property Type: Mixed-Use
  • Transaction Amount: $80,000,000
  • Address: 499 President Street
  • Market: Gowanus, Brooklyn
  • Square Footage: 321,364
  • Units: 350

Leading the transaction were The Brodsky Organization, Avery Hall Investment, and Battery Global Advisors who served as investors in this recapitalization deal. The brokers representing the transaction were Christopher Peck, Nicco Lupo, and Jonathan Faxon from JLL. Their expertise and efforts played a crucial role in closing this land recapitalization and vertical equity capitalization for the mixed-use development in Brooklyn.

Note: JLL successfully facilitated the $80 million recapitalization and vertical equity capitalization for this mixed-use development in Brooklyn.

Players

  • All

    4

  • Agents

    3

  • Agencies

    1

Jonathan Faxon's profile picture
Jonathan Faxon
JLL-image
Associate
$160.4M Sold
Nicco Lupo's profile picture

Details

Deal Summary
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FINANCED
IMAGE: Christopher Peck, Nicco Lupo & Jonathan Faxon DATE: 04/28/2023 ADDRESS: 499 President Street MARKET: Gowanus, Brooklyn ASSET TYPE: Mixed-Use ~ SF: 321,364 ~ UNITS: 350 INVESTORS: The Brodsky Organization, Avery Hall Investment & Battery Global Advisors BROKERS: Christopher Peck, Nicco Lupo & Jonathan Faxon - JLL (@JLL) RECAPITALIZATION: $80,000,000 NOTE FROM BROKER: JLL closes the $80M land recapitalization and vertical equity capitalization for mixed-use development in Brooklyn.

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Address499 President Street

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