Goldman Sachs, Related Cos. And Ares Management Provide $240M Construction Loan For Boerum Hill Mixed-Use Development
FINANCED
$240,000,000
New York
See Similar DealsMixed-use
Financed 07/22/2021
FINANCED
Goldman Sachs, Related Cos. And Ares Management Provide $240M Construction Loan For Boerum Hill Mixed-Use Development
80-100 Flatbush Ave, Brooklyn, NY, USA
See Similar DealsMixed-use
Financed 07/22/2021
Summary
NEW YORK
Asset Type:Mixed-use
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$240,000,000.00
Monthly NOI$1,600,000.00
Monthly Debt Service$1,516,963.26
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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