Updated Oct 28, 2024
Helaba Provides $79M Construction Loan For Multifamily Property In Downtown Brooklyn
111 Willoughby Street, Brooklyn, New York 11201, United States
$79,000,000
$641/SF
Building Size
123,165 SF
Asset Type
MultiFamily
Closing
Feb 28, 2022
About this deal
AI
The Roman Catholic Church of St. Boniface has secured a construction loan of $79,000,000 for a multifamily property located at 111 Willoughby Street in Downtown Brooklyn. The property has a total square footage of 123,165 and consists of 227 units. Helaba will act as the lender for this transaction.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $79,000,000
- Address: 111 Willoughby Street
- Market: Downtown Brooklyn
- Square Footage: 123,165
- Units: 227
Geoff Goldstein and Max Herzog from JLL represented the Roman Catholic Church of St. Boniface in this deal. They acted as the brokers for the transaction. Additional details about the individuals or companies involved in the deal were not provided.
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
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93