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737 4th Avenue

Updated Sep 11, 2026

FINANCEDMultiFamily

Construction Loan Secured For Sunset Park Mixed-Use Development At 737 4th Avenue

737 4th Avenue

$121,000,000

Units

187

Asset Type

MultiFamily

Closing

Mar 12, 2024

About this deal

AI

The mixed-use property located at 737 4th Avenue in Sunset Park, Brooklyn, was involved in a recent transaction. The property consists of 187 units and was the subject of a construction loan.

Summary of transaction details:

The key individuals involved in this deal include Lee Brodsky of BEB Capital, Scott Shnay of SK Development, Vivian Liao of Totem, and Ofer Cohen. The lenders for this transaction were Canyon, JP Morgan, and Tribeca Investment Group. Aaron Appel from Walker & Dunlop represented the parties involved in securing the construction loan.

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$121,000,000

MultiFamily

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Players

Aaron Appel

Walker & Dunlop

Broker

$35.7B

vol

209 deals

Broker
Canyon Partners
Canyon Partners Lender
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Brooklyn MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $647.1K per unit across 187 units on a published $121M (2024).

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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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