Updated Dec 19, 2024
Goose Property Management Secures $132M Construction Loan From Affinius Capital For Downtown Brooklyn Development
358 Livingston Street
$132,000,000
Units
297
Asset Type
MultiFamily
Closing
Dec 19, 2024
About this deal
AI
A construction loan of $132 million has been secured for a multifamily asset located at 358 Livingston Street in Downtown Brooklyn. The property is a planned 297-unit luxury development, set to complete in 2027.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $132,000,000
- Lender: Len O'Donnell - Affinius Capital
- Landlord: Yitzchok Katz & Perry Katz - Goose Property Management
- Broker: Henry Bodek - Galaxy Capital
- Market: Downtown Brooklyn
This transaction features key players in the multifamily development sector, with Goose Property Management representing the landlords Yitzchok Katz and Perry Katz, while Henry Bodek from Galaxy Capital facilitated the financing process. Len O'Donnell of Affinius Capital is the lender providing the construction financing.
On the Map
$132,000,000
MultiFamily
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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
0.12%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93