Updated Dec 12, 2024
Brookfield Properties Refinances MultiFamily Properties In Greenpoint & Bronx For $340M
2401 3rd Avenue & 1 Bell Slip
$340,000,000
Units
784
Asset Type
MultiFamily
Closing
Apr 29, 2024
About this deal
AI
The property involved in the transaction is a MultiFamily asset located at 2401 Third Avenue & 1 Bell Slip in Greenpoint, Brooklyn. The property spans 792,120 square feet.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $340,000,000
- Address: 2401 Third Avenue & 1 Bell Slip
- Market: Greenpoint, Brooklyn
Susan O'Brien, acting as the landlord, represents Brookfield Properties in this deal. A refinance loan of $340 million was secured by Brookfield Properties with Ares Managementas the lender. The loan was facilitated by Ares Commercial Real Estate Management LLC.
On the Map
$340,000,000
MultiFamily
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Players
Bronx MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.05%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93