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Cushman & Wakefield Arranges $56M Refi for BK MF Property
Cushman & Wakefield has arranged a $56 million senior loan refinancing for Quinlan Development Group for 230 Classon Avenue in Brooklyn. The fixed-rate loan was provided by QuadReal. Cushman & Wakefield’s team, including Gideon Gil, Zach Kraft, and Sebastian Sanchez, represented the borrower.
Located in the Clinton Hill submarket near The Pratt Institute, 230 Classon Avenue features 138 units and amenities including a private park, co-working lounge, gaming terrace, 97 parking spaces, a penthouse sky lounge, rooftop barbecue grills, and a fitness center.
“As evidenced by the competitive bidding process, there continues to be robust demand and capital available for best-in-class multifamily assets.” said Gil. “We are incredibly proud that we were able to deliver The Parish ahead of schedule and under budget to a Clinton Hill market starved for new free market and affordable housing, as evidenced by the strong operating performance thus far,” says Tyler Wilkins, partner at Quinlan Development Group.
- ◦Financing
