Dwight Mortgage Trust, the REIT affiliate of Dwight Capital, has recently closed a $75.2 million bridge financing deal for 210 Clarkson, a newly constructed luxury mixed-use apartment complex located in Brooklyn, NY. The property was completed in 2023 and boasts 115 market-rate units and 50 affordable units along with approximately 19,500 square feet of ground-floor retail space.
The loan proceeds were utilized to refinance existing construction debt for the borrower K2 Real Estate Partners. Meir Kessner and David Eisen from Sevenstone Capital facilitated this transaction as brokers. This property is also eligible for a tax abatement under the Affordable Housing New York program (421(a)).
The residential units at this complex range from studios to two bedrooms while its retail space includes an impressive grocery store spanning over18,700 square feet called Lincoln Market along with a community facility covering an area of about700 square feet.The amenities offered at210 Clarkson include private workspaces within office spaces,a game room,a screening room,a pet spa,and gym facilities.There is also access to outdoor terracesand fully furnished rooftop areas that includea yoga areafor residents’ enjoyment.
This news was originally published on Connect CRE’s website.
