Updated Oct 7, 2026
Angelo And George Rigas Secure $10.5 Million Loan From Sky Ventures For Brooklyn Properties
426 4th Avenue, 26 Delavan Street & 387 Columbia Street
$10,500,000
Units
19
Asset Type
MultiFamily
Closing
Sep 23, 2026
About this deal
AI
The loan transaction involves four properties located at 426 4th Avenue, 26 Delavan Street, and 387 Columbia Street in Brooklyn, which comprise a mix of multifamily and industrial assets. The properties include a 19-unit elevator building at 426 4th Avenue in Gowanus, along with two industrial properties in Red Hook. The total area of the properties is 54,746 square feet, and the total residential units amount to 22. The loan secured for this transaction is $10,500,000.
Summary of transaction details:
- Property Type: MultiFamily & Industrial
- Transaction Amount: $10,500,000
- Lender: Sky Ventures
- Landlord: Angelo Rigas & George Rigas
Angelo Rigas and George Rigas were the key individuals involved in securing the loan from Sky Ventures for their portfolio of Brooklyn properties. Their transaction reflects significant engagement in the real estate market, particularly within the borough’s multifamily and industrial sectors.
On the Map
$10,500,000
MultiFamily
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Tall Timbers MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.51%
Cash-on-Cash
-0.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93