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450 Union Street

Updated Oct 10, 2026

MacArthur Holdings & Tankhouse Secure $123M Construction Financing For 158-Unit Multifamily In Gowanus
FINANCEDMultiFamily

MacArthur Holdings & Tankhouse Secure $123M Construction Financing For 158-Unit Multifamily In Gowanus

450 Union Street

$123,000,000

Units

158

Asset Type

MultiFamily

Closing

Jul 17, 2025

About this deal

AI

The property asset involved in this transaction is a multifamily building located at 450 Union Street in Gowanus, Brooklyn, consisting of 158 units. The financial details include a total loan amount of $123,000,000, which comprises construction financing and equity placement. The lenders for this deal are Bank Hapoalim, IDB Bank, and Global Holdings.

Summary of transaction details:

The key individuals involved in this transaction include the landlords, MacArthur Holdings and Tankhouse, alongside the brokerage team from JLL represented by Christopher Peck, Peter Rotchford, Nicco Lupo, and Winfield Clifford. Their roles ensured the successful facilitation of this complex financial arrangement.

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$123,000,000

MultiFamily

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Players

Christopher Peck

JLL

Broker

$18.2B

vol

78 deals

Broker
JLL
JLLBrokerage
Israel Discount Bank
Israel Discount Bank Lender
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Brooklyn MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $778.5K per unit across 158 units on a published $123M (2025).

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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

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