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365 Bond Street

Freddie Mac Provides $165.6M Agency Loan For Lightstone Group's Multifamily Property On 365 Bond Street In Gowanus, Brooklyn
FINANCEDMultiFamily

Freddie Mac Provides $165.6M Agency Loan For Lightstone Group's Multifamily Property On 365 Bond Street In Gowanus, Brooklyn

365 Bond Street

$165,584,000

Building Size

Asset Type

MultiFamily

Closing

Dec 5, 2023

AI

The Lightstone Group has secured a loan of $165,584,000 for the acquisition of a multifamily property located at 365 Bond Street in Gowanus, Brooklyn. The property consists of 430 units and is situated in a highly desirable market.

Summary of transaction details

The transaction was facilitated by a team of brokers from JLL, including Peter Rotchford, Michael Shmuely, Michael Zaremski, John Flynn, Nicco Lupo, Rob Hinckley, Jeffrey Julien, Steven Rutman, Jonathan Hageman, and Hall Oster. Their expertise and negotiation skills played a crucial role in securing the loan for Lightstone Group.

Players

Jeffrey Julien

JLL

Broker

$9B

vol

58 deals

Broker
Freddie Mac
Freddie MacLender
Lightstone Group
Lightstone GroupLandlord

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

0.10%

Cash-on-Cash

-0.03%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93