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New York & Tri-State  + Outer  + Finance  | 

Natixis Provides $60M Refi on Park Slope/Gowanus Rentals

Natixis has provided a $60-million floating-rate loan to a subsidiary of Trinity Place Holdings Inc. for the refinancing of a Class-A multifamily property located at 237 11th St. in the Park Slope/Gowanus neighborhood of Brooklyn. The refi was arranged by Meridian Capital in New York.

The 12-story property features 105 units along with a Starbucks and an oral surgeon’s office on the ground floor. Trinity Place closed on its acquisition of the property for $81 million from an affiliate of Adam America Equities in the spring of 2018.

Leasing at the newly built rental property had been underway for just a few weeks when Trinity Place entered into an option agreement for it in September 2017. 237 11th is a block from the 4th Avenue/9th Street F, R and G subway station, and is also a short walk to nearby amenities such as Prospect Park and Whole Foods Market.


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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 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 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).