Updated Oct 13, 2026
Ekstein Development Group Secures $76M Joint Venture Equity And Construction Loan For Multifamily Property In Bushwick, Brooklyn
1333 Broadway
$76,000,000
$620/SF
Building Size
122,500 SF
Asset Type
MultiFamily
Closing
Apr 1, 2022
About this deal
AI
A joint venture equity and construction loan worth $76,000,000 has been secured for a multifamily property located at 1333 Broadway in Bushwick, Brooklyn. The property spans approximately 122,500 square feet and comprises 107 units. The transaction involved the lender Santander and the landlord Ekstein Development Group.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $76,000,000
- Address: 1333 Broadway, Bushwick, Brooklyn
- Square Footage: 122,500
- Number of Units: 107
- Lender: Santander
- Landlord: Ekstein Development Group
The deal was facilitated by brokers from JLL, including Rob Hinckley, Peter Rotchford, Jeff Julien, Chris Peck, Steven Rutman, and Nicco Lupo.
On the Map
$76,000,000
$620/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
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93