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Jed Resnick Of Douglaston Development Refinances Williamsburg Multifamily Asset For $171.5M With KKR

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FINANCED
$171,500,000

New York

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MultiFamily
Financed 08/04/2025
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Property Image
FINANCED

Jed Resnick Of Douglaston Development Refinances Williamsburg Multifamily Asset For $171.5M With KKR

1 North 4th Street

See Similar Deals
MultiFamily
Financed 08/04/2025
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan

The asset involved in the transaction is a 509-unit apartment building located at 1 North 4th Street, Williamsburg, Brooklyn. The property has been refinanced with a loan amount of $171.5 million, replacing a previous loan of $206 million. The current valuation of the property is approximately $328 per square foot built.

Summary of transation details:

  • Property Type: Multifamily
  • Transaction Amount: $171,500,000
  • Lender: KKR
  • Landlord: Jed Resnick - Douglaston Development
  • Previous Loan: $206,000,000 from Northwestern Mutual

The refinancing transaction involves KKR’s Commonwealth Annuity and Life Insurance Co. providing the new financing for Douglaston Development, which is represented by Jed Resnick in this deal.

Players

KKR
KKR
LENDER
JR
Douglaston Development
Jed Resnick
3 deals$302.5M volume
LANDLORD
Douglaston Development
Douglaston Development
LANDLORD

Details

FINANCED
IMAGE: Jed Resnick DATE: 08/04/2025 ADDRESS: 1 North 4th Street MARKET: Williamsburg, Brooklyn ASSET TYPE: Multifamily LENDER: KKR LANDLORD: Jed Resnick - Douglaston Development LOAN AMOUNT: $171,500,000 LOAN TYPE: Refinance NOTE: Douglaston Development refinanced its 509-unit apartment building at 1 North 4th Place in Williamsburg with a $171.5M loan from KKR’s Commonwealth Annuity and Life Insurance Co.. The new financing replaces a prior $206M loan from Northwestern Mutual and values the property at $328 per SF built.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$171,500,000.00

Monthly NOI$1,143,333.33
Monthly Debt Service$1,083,996.66
Change in Cash Flow$0.00
Refinance Proceeds$0.00