Updated Sep 30, 2025
Brookfield Properties Secures $188.4M Loan For Greenpoint Multifamily Property
1 Bell Slip, Greenpoint, Brooklyn, NY, USA
$188,400,000
$496/SF
Building Size
379,803 SF
Asset Type
MultiFamily
Closing
May 21, 2020
About this deal
AI
Located in Greenpoint, the multifamily property at 1 Bell Slip has recently been involved in a closed transaction. The property, owned by Brookfield Properties, attracted the attention of Otera Capital Investments, who provided a loan amount of $188,400,000. The deal took place on May 21, 2021, showcasing the demand for real estate in the Greenpoint market.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $188,400,000
- Address: 1 Bell Slip
- Market: Greenpoint
Otera Capital Investments played a pivotal role in this transaction by offering the significant loan amount. Meanwhile, Brookfield Properties, the landlord, was able to secure financing for their Greenpoint property through this deal. The involvement of these key individuals and companies highlights their impact on the real estate market.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.08%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93