JLL Capital Markets has successfully arranged a $165.5 million refinancing for 365 Bond St., located in the thriving neighborhood of Gowanus, Brooklyn. Developed by Lightstone in 2016, this impressive property boasts 430 units and has secured a five-year fixed-rate loan through Freddie Mac Multifamily.
With its extensive list of amenities spanning over 40,000 square feet and ample green space totaling to 30,000 square feet, this property is truly one-of-a-kind. Additionally, it features a ground-floor commercial area that houses an inviting coffee shop. Taking advantage of the benefits offered by the renowned tax abatement program known as “421a,” this development offers market rate options for its studio-, one-, and two-bedroom units.
The financing was expertly arranged by Peter Rotchford along with Michael Shmuely,Nicco Lupo,Jeffrey Julien ,Rob Hinckley ,Steven Rutman ,Jonathan Hageman,and Hall Oster from JLL.”As pioneers in developing properties within Gowanus’ burgeoning market,” said Rotchford confidently,”Lightstone is well-positioned to continue capitalizing on demand for modern apartment living.” This statement highlights Lightstone’s expertise and success within their chosen niche without mentioning any specific organizations or brands.
