Avery Hall, Declaration Partners & Bridge Investment Group Secure $72.5M Construction Loan For Gowanus Multifamily
FINANCED
$72,500,000
New York
See Similar DealsMultiFamily135,608 SF
Financed 09/15/2023
FINANCED
Avery Hall, Declaration Partners & Bridge Investment Group Secure $72.5M Construction Loan For Gowanus Multifamily
544 Carroll Street
See Similar DealsMultiFamily135,608 SF
Financed 09/15/2023
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$534
Total Square Footage:135,608 SF
Transaction Type:Loan
A multifamily property located at 544 Carroll Street in Gowanus, Brooklyn has been involved in a recent loan transaction. The property spans over 135,608 square feet and comprises 133 units. The loan amount for this transaction is $72,500,000, and it falls under the category of construction loans. The property is owned by Avery Hall, Declaration Partners, and Bridge Investment Group.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $72,500,000
- Address: 544 Carroll Street
- Market: Gowanus, Brooklyn
- Square Footage: 135,608
- Units: 133
- Landlord: Avery Hall, Declaration Partners & Bridge Investment Group
- Lender: TD Bank
- Brokers: Christopher Peck & Peter Rotchford - JLL
- Loan Type: Construction
Christopher Peck and Peter Rotchford from JLL served as brokers in this loan transaction.
Players
LENDER
LENDER
LENDER
LANDLORD
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$72,500,000.00
Monthly NOI$483,333.33
Monthly Debt Service$458,249.32
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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