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655 Union Street

Updated Mar 30, 2026

Avery Hall Investments And Gindi Capital Secures $136M Refinancing Loan For 655 Union Street
FINANCEDMultiFamily

Avery Hall Investments And Gindi Capital Secures $136M Refinancing Loan For 655 Union Street

655 Union Street

$136,000,000

$699/SF

Building Size

194,454 SF

Asset Type

MultiFamily

Closing

Feb 25, 2026

About this deal

AI

The property asset involved in this transaction is a multifamily building located at 655 Union Street in the Gowanus neighborhood of Brooklyn. The asset has a total square footage of 194,454 and comprises 193 units. The loan amount for this refinancing capitalization is $136,000,000.

Summary of transation details:

The transaction involves several key individuals and entities. The landlords are Avery Hall Investments and Gindi Capital. The brokerage firm JLL represented the deal with brokers Christopher Peck, Peter Rotchford, Michael Shmuely, and Nicco Lupo being integral to the transaction negotiation process.

On the Map

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$136,000,000

$699/SF

MultiFamily

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Players

Christopher Peck

JLL

Broker

$18.2B

vol

77 deals

Broker
Freddie Mac
Freddie MacLender
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Brooklyn MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $699 per square foot on a published $136M for 194,454 square feet (2026).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.12%

Cash-on-Cash

-0.03%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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