Slate Property Group borrows $52M from JLL Real Estate Capital for property in Park Slope

Slate Property Group through the entity 535 Fourth Avenue Owner LLC as borrower signed a loan agreement with lender Jll Real Estate Capital, LLC valued at $52.4 million for 1 parcel, including the tax class multifamily, semi-fireproof with stores (D7) and containing 148 residential units at 535 4th Avenue in Park Slope. The deal closed on December 30, 2020 and was recorded on January 12, 2021.
The property contains a total of 116,530 square feet of built space.
The average loan per unit is $354,108.
This refinances and pays off a $44 million construction loan and adds new debt.
Over the past five years, there have been 6 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 5 renovation/alteration projects (A2) applied for with a total estimated value of $152,000.

There has been one demolition project filed for the parcels over the past five years. The demolition included 148 residential units.

Direct link to Acris document. link