Cushman & Wakefield has successfully arranged a $56 million senior loan refinancing for Quinlan Development Group’s property at 230 Classon Avenue in Brooklyn. The fixed-rate loan was provided by QuadReal, and the borrower was represented by Cushman & Wakefield’s team of experts including Gideon Gil, Zach Kraft, and Sebastian Sanchez.
Situated in the desirable Clinton Hill submarket near The Pratt Institute, 230 Classon Avenue boasts 138 units and top-notch amenities such as a private park, co-working lounge, gaming terrace, penthouse sky lounge with rooftop barbecue grills,and a fitness center. According to Gil,”the competitive bidding process is evidence of strong demand and available capital for premier multifamily assets.” Tyler Wilkins,partner at Quinlan Development Group adds that “The Parish” (as it is known)was delivered ahead of schedule under budget to meet the high demand for new free market and affordable housing options in Clinton Hill.
This successful transaction showcases Cushman & Wakefield’s expertise in arranging financing deals for prime multifamily properties like this one.
