Lightstone secures $165.6 in financing for Gowanus rental property
Transactions - JANUARY 12, 2024

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Lightstone secures $165.6 in financing for Gowanus rental property


Lightstone announced that it secured $165.6 million in refinancing for 365 Bond St., a 430-unit multi-housing property in the Gowanus neighborhood of Brooklyn.

JLL represented the borrower to secure the five-year, fixed-rate loan through Freddie Mac Multifamily. The loan will be serviced by JLL Real Estate Capital, a Freddie Mac Optigo℠ lender.

365 Bond St. is a 430-unit class-A residential rental property developed by Lightstone in 2016. The property features 40,000 square feet of amenity space and 30,000 square feet of green space. A 2,407-square-foot, ground-floor commercial space is occupied by a coffee shop.

Situated two blocks from the Carroll Street Subway Station and three blocks from the Union Street Station, providing one-stop service to Manhattan in 15 minutes, the property was built under the 421a tax abatement program. Eighty percent of its studio, one- and two-bedroom units are market rate, attracting tenants employed by leading tech and healthca

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