Greystone announced it has arranged $287 million in permanent financing on behalf of Douglaston Development and Corebridge Real Estate Investors to refinance 1 North 4th Place, a 41-story, 509-unit luxury multifamily property on the Williamsburg waterfront in Brooklyn, NY. The loan, provided by KKR Real Estate Credit, replaces existing senior debt and preferred equity while returning additional capital to ownership.
Greystone Capital Advisors, led by Drew Fletcher and Bryan Grover, served as exclusive advisor on the transaction. Fletcher noted that the financing was structured to offer long-term flexibility and support the sponsors in maximizing the asset’s market potential.
Commercial Observer exclusively covered the transaction. Read the full article on Commercial Observer.