KKR borrows $17M from Berkeley Point to buy 57-unit rental in Ocean Hill

Kohlberg Kravis Roberts & Co. through the entity KRE Bklyner 75 Ralph LLC as borrower signed a loan agreement with lender Berkeley Point Capital LLC valued at $17 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 57 residential units at 75 Ralph Avenue in Ocean Hill. The deal closed on October 9, 2020 and was recorded on October 22, 2020.
The property contains a total of 43,680 square feet of built space.
The average loan per unit is $298,158.
Berkeley Point assigned the debt to Freddie Mac.
The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 57 residential units on April 13, 2016.
Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000.There has been one new building permit application totaling 38,240 square feet. Those plans include a total of 57 residential units. There has been one demolition project filed for the parcels over the past five years.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link
The signatory for the buyer or lender was Heidi Rua