Updated Oct 12, 2026
Truist Financial Provides $140 Million Refinance For Shoregate Multifamily Project In Bay Shore
143 4th Avenue
$140,000,000
Units
418
Asset Type
MultiFamily
Closing
Jul 8, 2025
About this deal
AI
The asset involved in this transaction is a 418-unit multifamily property located at 143 4th Avenue in the Bay Shore market. The property was developed by TRITEC Real Estate and has been refinanced for $140,000,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $140,000,000
- Lender: Truist Financial
- Landlord: Robert J. Coughlan, James L. Coughlan & Daniel P. Coughlan - TRITEC Real Estate
- Loan Type: Refinance
The refinancing deal was secured by JLL Capital Markets, emphasizing their role in facilitating financial arrangements for multifamily projects like Shoregate. The transaction reflects the confidence in the multifamily segment within the Bay Shore market.
On the Map
$140,000,000
MultiFamily
View full map
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Browse New York multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93