Greenbrook assumes loans totaling $24M as part of $40M purchase

Greenbrook Partners assumed loans secured by 10 properties with 84 units it acquired from Raj Associates for $39.7 million, and those loans were assigned from various lenders to FS Credit Real Estate Income Trust, managed by FS Investments and Rialto Capital Management. The financing occurred in 10 transactions.

In the first, Greenbrook Partners assumed the loans secured by the tax class primarily five to six family with store or office (S5) and containing 6 residential units at 1263 Broadway in Bushwick. The deal closed on December 30, 2020 and was recorded on January 15, 2021.
The property contains a total of 9,000 square feet of built space.

The last time the property sold was November 6, 2015 for $3,650,000.
Direct link to Acris document. link

In the second, Greenbrook Partners assumed the loans secured by the tax class multifamily, five to six families (C2) and containing 6 residential units at 1260 Broadway in Bedford-Stuyvesant. The deal closed on December 23, 2020 and was recorded on January 15, 2021.
The property contains a total of 6,000 square feet of built space. The property has 6,000 square feet of available development rights.
The average loan per buildable square foot is not available.
The last time the property sold was July 22, 2015 for $2,200,000.
Direct link to Acris document. link

In the third, Greenbrook Partners assumed the loans secured by thee tax class multifamily, five to six families (C2) and containing 6 residential units at 534 Bergen Street in Prospect Heights. The deal closed on December 30, 2020 and was recorded on January 15, 2021.
The property contains a total of 5,826 square feet of built space.

The last time the property sold was November 1, 2016 for $3,000,000.
Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000.

Direct link to Acris document. link

In the fourth, Greenbrook Partners assumed the loans secured by the tax class multifamily, over six families without stores (C1) and containing 8 residential units at 171 15th Street in Park Slope. The deal closed on December 23, 2020 and was recorded on January 15, 2021.
The property contains a total of 6,264 square feet of built space.

The last time the property sold was June 8, 2012 for $1,520,000.
Direct link to Acris document. link

In the fifth, Greenbrook Partners assumed the loans secured by the tax class multifamily, more than six families with stores (C7) and containing 8 residential units at 149 4th Avenue in Park Slope. The deal closed on December 30, 2020 and was recorded on January 15, 2021.
The property contains a total of 5,940 square feet of built space.

The last time the property sold was August 3, 2012 for $2,120,000.
Direct link to Acris document. link

In the sixth, Greenbrook Partners assumed the loans secured by the tax class four families (C3) and containing 4 residential units at 142 4th Avenue in Gowanus. The deal closed on December 21, 2020 and was recorded on January 15, 2021.
The property contains a total of 4,356 square feet of built space.
The last time the property sold was August 14, 2013 for $1,450,000.
Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000.

Direct link to Acris document. link

In the seventh, Greenbrook Partners assumed the loans secured by the tax class primarily three family with store or office (S3) and containing 3 residential units at 309 Henry Street in Brooklyn Heights. The deal closed on December 23, 2020 and was recorded on January 15, 2021.
The property contains a total of 4,600 square feet of built space.
The last time the property sold was January 6, 2006 for $1,750,000.
Direct link to Acris document. link

In the eighth, Greenbrook Partners assumed the loans secured by the tax class multifamily, over six families without stores (C1) and containing 18 residential units at 269 Henry Street in Brooklyn Heights. The deal closed on December 22, 2020 and was recorded on January 15, 2021.
The property contains a total of 9,000 square feet of built space.
The last time the property sold was May 31, 2005 for $3,550,000.
Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000.

Direct link to Acris document. link

In the ninth, Greenbrook Partners assumed the loans secured by the tax class multifamily, five to six families (C2) and containing 5 residential units at 287 Henry Street in Brooklyn Heights. The deal closed on December 23, 2020 and was recorded on January 15, 2021.
The property contains a total of 4,750 square feet of built space.

Direct link to Acris document. link

In the tenth, Greenbrook Partners assumed the loans secured by the tax class multifamily, over six families without stores (C1) and containing 20 residential units at 75 Pineapple Street in Brooklyn Heights. The deal closed on December 18, 2020 and was recorded on January 15, 2021.
The property contains a total of 7,322 square feet of built space.

The last time the property sold was February 12, 2007 for $7,400,000.
Direct link to Acris document. link