Brooklyn Tower Lands $380M Refi

Natixis arranged the loan on behalf of Douglaston Development for Level BK, a 40-story property located along the Williamsburg waterfront. Luxury amenities include an indoor/outdoor pool, a 24-hour business center and a furnished roof deck.
Level BK

Douglaston Development has secured a $380 million fixed-rate loan to refinance Level BK, the largest tower and final phase of its six-building project in Brooklyn, N.Y. The finished development is set to comprise more than 2,100 apartments, a waterfront esplanade, retail facilities and a public park. Natixis served as the lead arranger and administrative agent on the financing. 

Located at 2 N. Sixth Place, the property is a 40-story Class A multifamily building, designed by the Stephen B. Jacobs Group. Floorplans are offered in studio and one-, two- and three-bedrooms units. Interior features include floor-to-ceiling windows, custom solar shades, smoked walnut flooring, Bosch washer/dryers, glass upper cabinets, tile backsplashes, Silestone countertops with waterfall edges, Whirlpool appliances, satin nickel fixtures, porcelain tile with marble accents, master baths with hand showers and custom three-panel medicine cabinets with vanity lights. 

Luxury amenity space

Level BK offers residents access to building amenities and a club level. Overall property amenities include a furnished lobby with a fireplace and 24-hour concierge, a package valet with dry cleaning, housekeeping and pet services, on-site bicycle storage and valet parking, a kids playroom, a business center with video conferencing and work stations, free Wi-Fi in the common spaces and a roof/observation deck. The club level includes:

  • indoor/outdoor pool with skylight, whirlpool and steam room
  • 24-hour fitness center
  • yoga room with virtual on-demand fitness classes
  • furnished roof deck with fireplace, grills and communal lounge/dining
  • club lounge with game tables and demonstration kitchen
  • part room with kitchen and media

The building is within close proximity to East River State Park, Whole Foods and Apple stores, increasing foot traffic to the Williamsburg area. 

Last month, Natixis arranged a $19.5 million acquisition loan for a 383-bed student housing portfolio for students attending Lehigh University in Bethlehem, Pa. The 71 buildings were sold for $30 million by Campus Apartments in June. 

Image via Google Street View