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Blackstone Group's Stephen A. Schwarzman Secures $110.8M Refinance Loan For Canarsie Plaza Properties
FINANCED
$110,800,000
New York
See Similar DealsRetail
Financed 05/30/2025
FINANCED
Blackstone Group's Stephen A. Schwarzman Secures $110.8M Refinance Loan For Canarsie Plaza Properties
8719 Avenue D, 8725 Foster Avenue & 856 Remsen Avenue
See Similar DealsRetail
Financed 05/30/2025
Summary
NEW YORK
Asset Type:Retail
Transaction Type:Loan
The asset involved in this transaction includes retail and mixed-use properties located at 8719 Avenue D, 8725 Foster Avenue, and 856 Remsen Avenue in the Canarsie neighborhood of Brooklyn. The total loan amount secured for these properties is $110,800,000, which is designated for refinancing purposes.
Summary of transaction details:
- Property Type: Retail & Mixed-use
- Transaction Amount: $110,800,000
- Lender: Deutsche Bank, Bank of Montreal, and Barclays
- Landlord: Stephen A. Schwarzman - Blackstone Group
- Transaction Date: 05/30/2025
This transaction was facilitated by Blackstone Group through Breit Canarsie Owner LLC, which played a key role in securing the refinance loan from the aforementioned lenders for the specified properties in Brooklyn.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$110,800,000.00
Monthly NOI$738,666.67
Monthly Debt Service$700,331.37
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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