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DMT Provides $75M for BK Mixed-Use Complex
Dwight Mortgage Trust, the REIT affiliate of Dwight Capital, has provided $75.2 million in bridge financing for 210 Clarkson, a newly constructed luxury mixed-use apartment complex in Brooklyn, NY. The property, completed in 2023, includes 115 market-rate units, 50 affordable units, and approximately 19,500 square feet of ground-floor retail space.
The loan proceeds were used to refinance existing construction debt for the borrower, K2 Real Estate Partners, with Meir Kessner and David Eisen at Sevenstone Capital brokering the transaction. The property is eligible for a 421(a) tax abatement under the Affordable Housing New York program.
The residential units range from studios to two bedrooms, and the retail space includes an 18,700-square-foot grocery store, Lincoln Market, and a 700-square-foot community facility. Amenities at 210 Clarkson include office space with private workspaces, a game room, a screening room, a pet spa, a gym, and a yoga area with access to an outdoor terrace and a fully furnished rooftop.
- ◦Financing
