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15 Bridge Park Drive, Brook...

Updated Nov 28, 2024

Goldman Sachs & Dermot Acquire Multifamily Building In Brooklyn Bridge Park, Brooklyn For $90M
SOLDMultiFamily

Goldman Sachs & Dermot Acquire Multifamily Building In Brooklyn Bridge Park, Brooklyn For $90M

15 Bridge Park Drive, Brooklyn, New York 11201, United States

$90,000,000

$652/SF

Building Size

137,945 SF

Asset Type

MultiFamily

Closing

Sep 7, 2022

About this deal

AI

The multifamily property located at 15 Bridge Park Dr. in Brooklyn Bridge Park, Brooklyn has been sold in a closed transaction. The sale was brokered by Adam Spies, Adam Doneger, Dan O'Brien, and Avery Silverstein from Cushman & Wakefield. The buyers were Goldman Sachs and Dermot, while the sellers were RAL and Vanke. The transaction took place on September 8, 2022.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $90,000,000
  • Address: 15 Bridge Park Dr., Brooklyn, NY
  • Market: Brooklyn Bridge Park, Brooklyn

The property consists of 140 units, with a price per unit of $642,857. The total square footage of the property is 137,945, with a price per square foot of $65. This transaction signifies a significant investment in the multifamily market in Brooklyn Bridge Park.

Goldman Sachs and Dermot acted as the buyers, while RAL and Vanke were the sellers in this deal. The brokers involved were Adam Spies, Adam Doneger, Dan O'Brien, and Avery Silverstein from Cushman & Wakefield. Their expertise and negotiation skills played a vital role in the successful completion of this transaction.

On the Map

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$90,000,000

$652/SF

MultiFamily

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Players

Adam Doneger

Newmark

Broker

$54.8B

vol

199 deals

Broker
Avery Silverstein
Verified Badge

Avery Silverstein

Newmark

Broker

$15.1B

vol

66 deals

Broker
Cushman & Wakefield
Cushman & WakefieldBrokerage

Dermot

Goldman Sachs

Buyer

$602.8M

vol

9 deals

Buyer
Bilt advertisement

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $652 per square foot on a published $90M for 137,945 square feet (2022).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.18%

Cash-on-Cash

-0.05%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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