G4 Capital Partners Provides $130 Million Construction Loan For Multifamily Project In Downtown Brooklyn
FINANCED
$130,000,000
New York
See Similar DealsMultiFamily305,000 SF
Financed 12/09/2021
FINANCED
G4 Capital Partners Provides $130 Million Construction Loan For Multifamily Project In Downtown Brooklyn
101 Fleet Place, Brooklyn, NY 11201
See Similar DealsMultiFamily305,000 SF
Financed 12/09/2021
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$426
Total Square Footage:305,000 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$130,000,000.00
Monthly NOI$866,666.67
Monthly Debt Service$821,688.43
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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