Alchemy Ventures Recapitalizes and Refis Nine Brooklyn Apartment Assets
New York City based Alchemy Ventures recapitalized a portfolio in Brooklyn, consisting of nine buildings and 113 residential units, for $36 million. Simultaneously, Alchemy secured a new financing loan for the portfolio from Signature Bank totaling $27.5 million.
The five-year loan was provided has a 4.125% interest rate with three years only incumbering the following assets: 216 Macon St., 1050 Lafayette Ave., 223 Bainbridge St., 475 Hancock St., 442 Decatur St., 45 Kingston Ave., 910 Prospect Pl., 788 Madison St. and 790 Madison St..
“We successfully paid off existing debt and secured a new financing for our Brooklyn portfolio by executing a value-add strategy for these nine assets, said Alchemy principals Sam Kooris, and Alex Horn in a joint statement. “We renovated these properties and also plan to implement a capex business plan over the next six months to continue improving the buildings and modernizing apartments.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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