Gateway Center South
A retail property in Brooklyn, New York. Securitized in 1 CMBS deal in 2023.
$271.1MAppraised value (latest deal)
89.4%Occupancy
$13.7MUnderwritten NOI
5.1%Implied cap rate
- Address
- 501 Gateway Drive, Brooklyn, NY 11239
- Property type
- Retail · Anchored
- Year built
- 2002
- Size
- 355,033 SF
- Sponsor
- The Related Companies, L.P.
- Loan purpose
- Refinance
- Largest tenant
- BJ's Wholesale Club
Appearances in CMBS deals
| Deal | Cut-off / filing | Appraised | Occ. | UW NOI | Cap | Loan / alloc. bal. | LTV | DSCR | Source |
|---|---|---|---|---|---|---|---|---|---|
| BMO 2023-5C1 | 2023-08-16 | $271.1M | 89.4% | $13.7M | 5.1% | $62.5M | 59.9% | 1.21x | 424B |
Historical NOI reported in BMO 2023-5C1
| Period ending | NOI |
|---|---|
| 3/31/2023 | $15.2M |
| 12/31/2022 | $15.2M |
| 12/31/2021 | $15.3M |
More CMBS properties in New York →
Figures are read from Annex A-1 of the trust's SEC prospectus as of the deal's cut-off date. Parsing can misread a cell; the prospectus link is the authoritative source. Implied cap rate = underwritten NOI ÷ appraised value, shown only between 2% and 20%.