Updated Oct 28, 2024
G4 Capital Partners Provides $130 Million Construction Loan For Multifamily Project In Downtown Brooklyn
101 Fleet Place, Brooklyn, NY 11201
$130,000,000
$426/SF
Building Size
305,000 SF
Asset Type
MultiFamily
Closing
Dec 9, 2021
About this deal
AI
An undisclosed multifamily property located at 101 Fleet Place in Downtown Brooklyn recently received a construction loan. The property spans approximately 305,000 square feet and consists of 292 units, making it a significant asset in the area.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $130,000,000
- Address: 101 Fleet Place, Downtown Brooklyn
- Market: Downtown Brooklyn
- Lender: G4 Capital Partners
- Loan Representatives: Jason Behfarin, Robyn Sorid, Robert Palumbo, John Mak, Chris Goetz, and Charles Russell
- Landlord: The Jay Group
- Broker: Henry Bodek - Galaxy Capital Solutions
The construction loan, totaling $130 million, was provided by G4 Capital Partners. The lender was represented in the deal by Jason Behfarin, Robyn Sorid, Robert Palumbo, John Mak, Chris Goetz, and Charles Russell. The property is owned by The Jay Group, while Henry Bodek of Galaxy Capital Solutions acted as the broker during the transaction.
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
0.12%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93