Secure $520M 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 the luxury mixed-use community, Sackett Place and Society Brooklyn, located in Gowanus, Brooklyn. The two towers are projected to open in 2025 with 517 multi-housing units as well as 10,000 square feet of retail space. This development is part of the Gowanus rezoning initiative which includes permanent affordable housing.
JLL’s Capital Markets Advisory Team was led by Christopher Peck along with Andrew Scandalios, Peter Rotchford, Nicco Lupo Rob Hinckley Jeff Julien and Jonathan Faxon to secure a total capitalization of $520M for this project.