Brooklyn Community Secures $113M Refi

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