Galaxy Capital Arranges $67M Construction Loan For Mixed-Use Property On Fulton Street In Downtown Brooklyn
570 Fulton Street,Downtown Brooklyn,New York
$67,000,000
$540/SF
Building Size
123,872 SF
Asset Type
Mixed-use
Closing
Jun 29, 2023
About this deal
AI
The mixed-use property located at 570 Fulton Street in Downtown Brooklyn has been involved in a recent closed transaction. With a total square footage of 123,872 and comprising 155 units, this property offers a versatile space for both residential and commercial use.
Summary of Transaction Details
- Property Type: Mixed-Use
- Transaction Amount: $67,000,000
- Address: 570 Fulton Street
- Market: Downtown Brooklyn
- Square Footage: 123,872
- Units: 155
Henry Bodek from Galaxy Capital acted as the broker in this deal, representing the involved parties in this closed transaction.
The loan provided for this property was in the amount of $67,000,000 and falls under the category of construction loan. This financial support will contribute to the development and improvement of the mixed-use property at 570 Fulton Street, enhancing its appeal and increasing its market value.
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
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93