Matthew Rooney Of MDG Design & Construction Secures $448.7M Rehab Loan For Williamsburg Multifamily Properties
142 Leonard Street, 226 Humboldt Street & 202 Graham Avenue
$448,700,000
$122/SF
Building Size
1,217,221 SF
Asset Type
MultiFamily
Closing
Sep 25, 2025
AI
The transaction involves multifamily properties located at 142 Leonard Street, 226 Humboldt Street, and 202 Graham Avenue in Williamsburg, Brooklyn. The total square footage of the assets is 1,217,221, comprising 1,620 units. The transaction falls under construction loan type with a loan amount of $448,700,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $448,700,000
- Square Footage: 1,217,221
- Units: 1,620
- Lender: NYC Housing Development Corporation
- Landlord: Matthew Rooney - MDG Design + Construction
- Date: September 25, 2025
MDG Design + Construction’s Partnership Community Housing Development Fund secured the loan for the rehabilitation of five properties located in Williamsburg, Brooklyn, enhancing the housing landscape in the area with a focus on community development.
Players
Brooklyn MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.04%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93