Goldman Sachs, Related Cos. And Ares Management Provide $240M Construction Loan For Boerum Hill Mixed-Use Development
80-100 Flatbush Ave, Brooklyn, NY, USA
$240,000,000
Building Size
—
Asset Type
Mixed-use
Closing
Jul 21, 2021
About this deal
AI
80-100 Flatbush Ave. in Boerum Hill, Brooklyn has recently secured a construction loan worth $240,000,000. The property is a mixed-use development and is considered a significant asset in the market.
Summary of transaction details:
- Property Type: Mixed-use development
- Transaction Amount: $240,000,000
- Lender: Goldman Sachs, Related Companies, and Ares Management
- Landlord: Alloy Development - Jared Della Valle
The loan for 80-100 Flatbush Ave. was provided by a consortium of lenders including Goldman Sachs, Related Companies, and Ares Management. The landlord of the property is Alloy Development, represented by Jared Della Valle.
On the Map
$240,000,000
Mixed-use
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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
0.07%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93