Updated Jul 8, 2025
Grubb Properties Secures $129.4 Million Loan For 462-Unit Multifamily At 111 Washington Street
111 Washington Street
$129,400,000
$327/SF
Building Size
395,717 SF
Asset Type
MultiFamily
Closing
Jun 27, 2025
About this deal
AI
The asset involved in this transaction is a multifamily residential building located at 111 Washington Street in the Financial District of Manhattan. The property encompasses a total square footage of 395,717 and consists of 462 units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $129,400,000
- Lender: Brian Steiner & Adam Glick - Maxim Capital Group
- Landlord: Clay Grubb - Grubb Properties
The deal was facilitated by Clay Grubb representing Grubb Properties, which secured an additional $129.4 million loan specifically for the 462-unit residential building situated at the noted address. The lending was conducted through Maxim Capital Group, represented by Brian Steiner and Adam Glick.
On the Map
$129,400,000
$327/SF
MultiFamily
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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
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93