Updated Dec 4, 2024
Slate Property Group & RiseBoro Acquires Multifamily Property In Brooklyn With $121.7M Construction Loan From Goldman Sachs Asset Management
326 Rockaway Avenue, Brooklyn, New York 11212, United States
$121,700,000
$657,837/SF
Building Size
185 SF
Asset Type
MultiFamily
Closing
Dec 21, 2022
About this deal
AI
The multifamily property located at 326 Rockaway Avenue in Brooklyn was recently involved in a closed transaction. The property spans approximately 185,000 square feet and consists of 215 units. It is owned by Slate Property Group and RiseBoro.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $121,700,000
- Address: 326 Rockaway Avenue
- Market: Brooklyn
- Lender: Goldman Sachs Asset Management
- Loan Type: Construction
In this transaction, the lender was Goldman Sachs Asset Management. They provided a construction loan amounting to $121,700,000 to facilitate the deal. The property's landlord, Slate Property Group and RiseBoro, represented the sellers in the transaction.
Players
Brooklyn 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
0.13%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93