Glacier Equities Secures $39 Million Pre Development Loan From KRE Capital In Brooklyn
99 Commercial Street
$39,000,000
Units
24
Asset Type
Mixed-use
Closing
Jun 29, 2026
About this deal
AI
The asset involved in this transaction is a mixed-use property located at 99 Commercial Street in Brooklyn. The loan amount for this pre-development financing is $39,000,000, which will be utilized for further development purposes.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $39,000,000
- Lender: Jody Kriss - KRE Capital
- Landlord: Glacier Equities - Rachel Brill
- Landlord's Representative: Max Ralby & Holden Witkoff - Newmark
- Date of Transaction: 06/29/2026
Key individuals involved in the deal include Jody Kriss, who serves as the lender through KRE Capital, and Rachel Brill, representing Glacier Equities as the landlord. The landlord's interests are represented by brokers Max Ralby and Holden Witkoff from Newmark, facilitating this substantial loan agreement.
On the Map
$39,000,000
Mixed-use
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Players
Brooklyn 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
0.41%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93