New York & Tri-State CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Lightstone Lands $166M Refi for Gowanus Rental Property
JLL Capital Markets facilitated a $165.5 million refinancing for 365 Bond St. in Gowanus, Brooklyn. The 430-unit property, developed by Lightstone in 2016, secured a five-year fixed-rate loan via Freddie Mac Multifamily.
The property features 40,000 square feet of amenities, 30,000 square feet of green space, and a ground-floor commercial area housing a coffee shop. Built under the 421a tax abatement program, 80% of its studio, one- and two-bedroom units are market rate.
Peter Rotchford, Michael Shmuely, Nicco Lupo, Jeffrey Julien, Rob Hinckley, Steven Rutman, Jonathan Hageman and Hall Oster of JLL arranged the financing. “As a pioneering developer in the Gowanus neighborhood, Lightstone is well positioned to continue to capitalize on demand for modern apartment living in a burgeoning and exciting market,” said Rotchford.
- ◦Financing
