Silverstone Partners, a thematic real estate investment manager, has announced a partnership with Related Fund Management to provide preferred equity financing to recapitalize One Sunset. The property is a newly constructed 187-unit, 14-story mid-rise multifamily project in the Greenwood Heights submarket of Brooklyn, N.Y., built under the final iteration of the Affordable New York (421-a) program, which designates 25 percent of the property’s units as affordable housing.
The investment is credit enhanced by the significant equity invested by the property’s sponsors, a co-sponsorship between two prominent local developers. This strategic position in the capital stack offers a compelling risk-adjusted return profile while allowing Silverstone to serve as a trusted capitalization partner to facilitate the successful lease-up and stabilization of a high-quality residential asset.
“This investment validates our thematic focus on high-quality multifamily assets in mar
