Updated Oct 13, 2026
Jed Resnick Of Douglaston Development Refinances Williamsburg Multifamily Asset For $171.5M With KKR
1 North 4th Street
$171,500,000
Units
509
Asset Type
MultiFamily
Closing
Aug 4, 2025
About this deal
AI
The asset involved in the transaction is a 509-unit apartment building located at 1 North 4th Street, Williamsburg, Brooklyn. The property has been refinanced with a loan amount of $171.5 million, replacing a previous loan of $206 million. The current valuation of the property is approximately $328 per square foot built.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $171,500,000
- Lender: KKR
- Landlord: Jed Resnick - Douglaston Development
- Previous Loan: $206,000,000 from Northwestern Mutual
The refinancing transaction involves KKR’s Commonwealth Annuity and Life Insurance Co. providing the new financing for Douglaston Development, which is represented by Jed Resnick in this deal.
On the Map
$171,500,000
MultiFamily
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93