Walker & Dunlop has arranged a $285 million bridge loan to an affiliate of Madison Realty Capital to refinance Greenpoint Central, a newly built 473-unit class A multifamily property in Brooklyn’s thriving Greenpoint neighborhood.
The property’s multifamily rental component includes thoughtfully designed studio, one- and two-bedroom apartments, with 70 percent market-rate and 30 percent affordable units developed through the Affordable New York (ANY) 421(a) Option C program and the Inclusionary Housing program. The property also features 19,589 square feet of retail space on the ground and cellar floors.
“Located in a prime Greenpoint location with access to scenic river views and convenient proximity to Brooklyn, Queens and Manhattan, this property offers an intimate, livable alternative to Manhattan and other parts of Brooklyn,” said Sean Reimer, managing director at Walker & Dunlop.
Greenpoint is a waterfront neighborhood that seamlessly combi
