JLL Capital Markets has successfully facilitated a $165.5 million refinancing deal for 365 Bond St., located in the thriving neighborhood of Gowanus, Brooklyn. Developed by Lightstone in 2016, this 430-unit property has secured a five-year fixed-rate loan through Freddie Mac Multifamily.
Boasting an impressive array of amenities spanning over 40,000 square feet and surrounded by lush green space covering an additional 30,000 square feet, this property also features a ground-floor commercial area that houses a popular coffee shop. Taking advantage of the benefits offered under the renowned tax abatement program known as “421a,” approximately eighty percent of its studio and one- to two-bedroom units are currently being rented at market rates.
The financing was expertly arranged by Peter Rotchford, Michael Shmuely,Nicco Lupo,Jeffrey Julien , Rob Hinckley , Steven Rutman , Jonathan Hageman and Hall Oster from JLL who have extensive experience in such transactions. According to Rotchford: “Lightstone’s pioneering presence within Gowanus makes them ideally positioned to capitalize on the growing demand for modern apartment living within this exciting market.”
