Bridges Development Group Secures $34.65 Million Loan For Kingswood Center In Midwood Brooklyn
1630 East 15th Street
$34,650,000
$151/SF
Building Size
228,615 SF
Asset Type
Retail
Closing
Jul 14, 2026
About this deal
AI
The Kingswood Center, located at 1630 East 15th Street in Midwood, Brooklyn, is a retail asset encompassing a total square footage of 228,615. An acquisition loan amounting to $34,650,000 has been secured for this property.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $34,650,000
- Asset Address: 1630 East 15th Street
- Market: Midwood, Brooklyn
- Landlord: Bridges Development Group
- Brokers: Scott Aiese & Alex Staikos - JLL
- Loan Type: Acquisition
The transaction involves key players, including the landlord, Bridges Development Group, and brokers Scott Aiese and Alex Staikos from JLL, who facilitated the deal. Their roles were crucial in representing the parties involved in this acquisition loan transaction.
On the Map
$34,650,000
$151/SF
Retail
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Players
Brooklyn Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.46%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93