**Dwight REIT Closes $34M Bridge Loan for Greenpoint Rental Refinance**
Dwight Mortgage Trust (DMT), the real estate investment trust affiliate of Dwight Capital, has successfully closed a $34 million bridge loan to refinance 170 Freeman Street, a newly developed 67-unit apartment community in Brooklyn’s Greenpoint neighborhood.
The transaction was originated by DMT’s David Scheer, representing borrowers Daniel Greenberg and Joshua Greenberg of Green Street Group Managers LLC.
Loan proceeds will be used to cover transaction costs, fund an interest reserve, and complete remaining construction work. The project also qualifies for a 35-year 421-a tax abatement, offering long-term property tax benefits.
The property features a single eight-story building that includes ground-floor commercial space. Residential units are composed of 12 studios, 40 one-bedroom apartments, and 15 two-bedroom apartments.
Amenities at 170 Freeman Street include a fitness center, bike storage, study rooms, storage lockers, a resident lounge, pet spa, and a rooftop terrace with a grill and sweeping views of the Manhattan skyline.
