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New York & Tri-State  + Outer Boroughs  + Apartments  | 

GAIA Lands One-Year Extension on Williamsburg Multifamily Loan

GAIA Real Estate has secured an additional one-year extension of its $48-million loan with Raymond James Bank for 55 Hope, a 117-unit multifamily property in Williamsburg, Brooklyn. The extension pushes the loan’s maturity to August 2027.

“We are pleased to continue our partnership with Raymond James at 55 Hope,” said Danny Fishman, CEO and co-founder, GAIA Real Estate. “We acquired the property at the height of the COVID-19 pandemic, amid significant uncertainty in New York, and have since increased net operating income significantly through active management and a long-term approach to value creation. This extension demonstrates our ability to identify opportunities across market cycles and position our investments for sustained performance in Brooklyn’s multifamily market.”

Originally built as a pencil factory, 55 Hope was gut-renovated in 2012 into condo-style apartments. Since its inception, GAIA Real Estate has acquired more than 20,000 residential units and managed approximately $4 billion in assets.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-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 7-10 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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