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.