Brooklyn Community Secures $113M Refi

1 min read

Goldman Sachs originated the new loan, which pays down a previous $120 million construction mortgage for the 2016-built luxury property.

365 Bond Street

Lightstone Group has taken a $113 million refinancing package from Goldman Sachs for 365 Bond Street, a 429-unit luxury community in Brooklyn, Yardi Matrix shows. The new mortgage retires $120 million in prior debt, originated by Square Mile Capital Management in May 2017, about one year after the property welcomed its first residents.

Located in Brooklyn’s Boerum Hill-Gowanus submarket, the asset is a five-minute walk from the Carroll Street subway station, served by the F and G lines. A variety of shopping and dining options are a stone’s throw away, including a Whole Foods Market a half mile southeast.

The community contains a mix of studio, one- and two-bedroom apartments. Of the property’s units, 86 are classified as affordable. The 12-story building includes roughly 40,000 square feet of amenity space, which consists of a fitness center, playroom, rooftop deck and a 193-space parking garage inside the structure. The property was 99.1 percent occupied as of November.

Image courtesy of Yardi Matrix

You May Also Like

The latest multifamily news, delivered every morning.

Latest Stories

Like what you're reading? Subscribe for free.