Alloy Development signs $155M first mortgage construction loan with Goldman Sachs, total debt is $240M

Alloy Development through the entity 110 Flatbush Avenue, LLC as borrower signed a new development loan with lender Goldman Sachs through the entity Goldman Sachs Bank USA valued at $155 million for multiple parcels including 100 Flatbush Avenue in Downtown Brooklyn, Brooklyn.
The deal closed on July 15, 2021 and was recorded on August 13, 2021. Alloy plans a 441-unit residential building at the site.

The signatory for Alloy Development was Jared Della Valle.

Jared Della Valle leads Alloy.  The loan with a total value of $240 million was brokered by JLL’s Christopher Peck, David Giancola, Peter Rotchford and Jeffrey Julien, according to Real Estate Weekly.

Within a 400-foot radius of 100 Flatbush Avenue, PincusCo identified three commercial real estate items of interests occurred over the past 24 months.
There were three new building permit applications. The most recent of these three items was a filing on October 21, 2019 for a 189,443-square-foot E building with no residential unit at 489 State Street.

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