Domain Companies borrows $32M from Fundamental Advisors for industrial property in Gowanu

Matthew Schwartz’s Domain Companies through the entity 545 Sackett LLC as borrower signed a loan agreement with lender Laurence Gottlieb’s Fundamental Advisors through the entity Fundamental Partners III LP valued at $32.0 million for 1 parcel, including the tax class semi-fireproof manufacturing building (F4) at 545 Sackett Street in Gowanus. The deal closed on January 28, 2020 and was recorded on February 25, 2020.
The property contains a total of 41,050 square feet of built space. The property has 79,850 square feet of available development rights.
The average loan per buildable square foot is $330.
The debt includes a $26.3 million first mortgage and a $5.7 million second mortgage. The last time the property sold was December 15, 2017, when Domain bought it for $26,500,000.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link