Secure $500M Capitalization for Brooklyn Mixed-Use Development

Property Markets Group (PMG) and Carlyle have secured a $335 million construction loan and $165 million LP equity for Sackett Place and Society Brooklyn, a luxury mixed-use community in Gowanus, Brooklyn. Located at 267 Bond St. and 510 Sackett St., the project will feature two towers with 517 multi-housing units as well as 10,000 square feet of retail space upon its expected opening in 2025. The development is part of the Gowanus rezoning initiative to create permanent affordable housing.
JLL’s Capital Markets Advisory Team was led by Christopher Peck, Andrew Scandalios, Peter Rotchford, Nicco Lupo , Rob Hinckley , Jeff Julien ,and Jonathan Faxon .
A total capitalization of $500 million has been achieved for this luxury mixed-use development located in Gowanus Brooklyn which includes two towers with 517 multi-housing units plus 10k sq ft of retail space set to open by 2025 . Property Market Group (PMG) & Carlyle were able to secure a combined sum of 335M construction loan & 165M LP equity thanks to JLL’s Capital Market Advisory team headed up by Christopher Peck et al . This project is also partof the ongoing rezoning initiative that seeks to provide permanent affordable housing options within the area .