At a glance
- The debt replaced an Argentic loan Capstone used to acquire the property in 2025, according to the report.
- The complex at 1205–1325 Franklin Avenue holds 488,835 square feet across four buildings.
- Across 488,835 square feet, the $43 million loan works out to about $88 per square foot, a comparison point for investors assessing CMBS collateral backed by older suburban offices.
Goldman Sachs lent $43 million to Capstone Equities against Franklin Avenue Plaza, a four-building office complex in Garden City, N.Y., as part of a larger CMBS securitization, Commercial Observer first reported.
The debt replaced an Argentic loan Capstone used to acquire the property in 2025, according to the report. Newmark's Daniel Fromm, Ryan Bub and Stavros Giannakopoulos arranged the financing.
The complex at 1205–1325 Franklin Avenue holds 488,835 square feet across four buildings. The buildings opened around 1979 and rise no more than five stories, about 20 miles east of Manhattan. Capstone's 2025 purchase price was not disclosed.
Across 488,835 square feet, the $43 million loan works out to about $88 per square foot, a comparison point for investors assessing CMBS collateral backed by older suburban offices.
Reported by the Real estate debt desk from Commercial Observer. Published . Corrections