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Walker & Dunlop Arranges $388M BofA Financing for Brooklyn Luxury Development
Walker & Dunlop, Inc.’s New York capital markets team structured approximately $388.4 million in financing from Bank of America for The Brook, a 448,000-square-foot development with luxury, mixed-use multifamily and retail space in Downtown Brooklyn.
The team of Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Michael Ianno and Sean Bastian was retained by Witkoff and Apollo Commercial Real Estate Finance, Inc to arrange the financing. The Brook will be split between two development sites, with the larger “Eastern Site” at 565 Fulton St. and the “Western Site” at 547-557 Fulton St.
“As one of the most highly-coveted development sites within Downtown Brooklyn, The Brook represented a once-in-a-generation opportunity to develop an unparalleled mixed-use project at the focal point of Downtown Brooklyn’s ongoing development boom,” said Appel. “Having played a part in financing nearly 35% of Downtown Brooklyn’s recent developments, we are proud to add this one to the list.”
- ◦Development
- ◦Financing
