Industrie Capital Partners signs $31M refi with Apollo for 75-unit rental in Prospect Heights

Industrie Capital Partners through the entity 317 St. Marks Owner LLC as borrower signed a refi loan with lender Apollo Global Management through the entity Athene Annuity And Life Company valued at $31 million for the 75-unit residential elevator building (D6) at 313 St Marks Avenue in Prospect Heights, Brooklyn.
The deal closed on May 29, 2025 and was recorded on June 13, 2025. The prior lender was Series 2018-K730 which held debt that had an original loan amount of $30.5 million.The property has 66,953 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $463 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The owner bought the property on July 30, 2012, for $5.8 million. The signatory for Industrie Capital Partners was Eli Hamway . The signatory for Apollo Global Management was Jeffrey Horowitz .

Prior sales and revenue

The owners according to the Department of Housing Preservation and Development includes Moses Berkowitz, head officer and Abe Friedman, site manager. The business entity is 317 St Marks Avenue LLC. The 66,953-square-foot property generated revenue of $3.2 million or $48 per square foot, according to the most recent income and expense figures.

The property

The residential elevator building with 75 residential units in Prospect Heights has 66,953 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 54 feet and is 199 feet deep with a total lot size of 22,012 square feet. The lot is irregular. The zoning is R6B which allows for up to 2 times floor area ratio (FAR) for residential with inclusionary housing. The property has a 421a exemption that started in 2019 and expires in 2044. The city-designated market value for the property in 2022 is $15 million. The property has 75 rent regulated units according to city tax records from 2022.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has received two housing violations and $100 in OATH penalties in the last year.

Development

For the tax lot building, it received its initial certificate of occupancy on September 26, 2017. There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The block

On this tax block, PincusCo has identified the owners of five of the 18 commercial properties representing 24,431 square feet of the 131,821 square feet. The largest owner is Black Veterans For Social Justice, followed by Meah Mohammed D and then Bret Heilig.
There are no active new building construction projects on this tax block.

The majority, or 51 percent of the 131,821 square feet of built space are elevator buildings, with walkup buildings next occupying 37 percent of the space.

The borrower

The PincusCo database currently indicates that Industrie Capital Partners owned at least one commercial property with three residential units in New York City with 7,563 square feet and a city-determined market value of $1.9 million. (Market value is typically about 50% of actual value.) The portfolio has $10.5 million in debt, borrowed from Bank Hapoalim. The portfolio consists of at least a single mixed-use property. It is located in Brooklyn.

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