Updated Jul 31, 2025
Domain Companies And Silverstein Properties Secure $205M Bridge Loan From AllianceBernstein For Gowanus Multifamily
420 Carroll Street
$205,000,000
$3,135/SF
Building Size
65,376 SF
Asset Type
MultiFamily
Closing
Jul 13, 2025
About this deal
AI
The asset involved in this transaction is a multi-family property located at 420 Carroll Street, Gowanus, Brooklyn, comprising 360 units. The transaction was supported by a bridge takeout financing loan amounting to $205,000,000.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $205,000,000
- Address: 420 Carroll Street
- Market: Gowanus, Brooklyn
- Lender: AllianceBernstein L.P.
- Landlord: Domain Companies & Silverstein Properties
- Brokers: Christopher Peck, Peter Rotchford & Nicco Lupo - JLL
- Loan Type: Bridge Takeout Financing
The transaction involved key participants including the lender, AllianceBernstein L.P., and the landlords, Domain Companies and Silverstein Properties. The brokerage team representing the landlords comprised Christopher Peck, Peter Rotchford, and Nicco Lupo from JLL.
On the Map
$205,000,000
$3,135/SF
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
0.08%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93