Updated Sep 11, 2026
EMP Capital Group Secures $109M Construction Loan In Prospect Heights
1034-1042 Atlantic Avenue
$109,000,000
Units
247
Asset Type
MultiFamily
Closing
Mar 15, 2024
About this deal
AI
The multifamily property located at 1034-1042 Atlantic Avenue in Prospect Heights consists of 247 units. The loan for this asset was provided by QuadReal Property Group to EMP Capital Group. The brokers involved in this transaction from Walker & Dunlop were Keith Kurland, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Mo Beler, Jordan Casella, and William Herring.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $109,000,000
- Loan Type: Construction
The key individuals instrumental in this deal include Keith Kurland, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Mo Beler, Jordan Casella, and William Herring from Walker & Dunlop. These professionals played pivotal roles in facilitating the construction loan for the multifamily property in Prospect Heights.
On the Map
$109,000,000
MultiFamily
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Players
Brooklyn 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
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93