Naftali Group and Access Real Estate have secured a $374.35 million refinancing for Phase I of Williamsburg Wharf, a 3.75-acre waterfront development at 470 Kent Avenue in Williamsburg, Brooklyn. The loan was provided by Barings and refinances the project’s first phase, which includes the rental buildings Two, Three, and Four Williamsburg Wharf. The property is bounded by South 10th Street to the north, Division Avenue to the south, Kent Avenue to the east, and Wallabout Channel to the west.
Williamsburg Wharf. Photo by Michael Young.
Since opening to residents last summer, the rental component has surpassed 90 percent leasing across more than 500 apartments. One Williamsburg Wharf, the development’s first condominium building, also opened to residents last year and has a limited number of homes remaining.
Williamsburg Wharf. Photo by Michael Young.
Williamsburg Wharf. Photo by Michael Young.
The development rises 280 feet along the East River waterfront and includes nearly 525 feet of river frontage. It was designed by Brandon Haw Architecture, Ward + Gray, Studio Munge, Hill West, and Scape Landscape Architecture. Amenities span more than 20,000 square feet and include a rooftop pool deck, a winter ice-skating rink, an indoor-outdoor fitness center, yoga studio, landscaped terraces, a private dog run, open lawn, and public waterfront park.
Williamsburg Wharf. Photo by Michael Young.
Transit nearby Williamsburg Wharf includes the South Williamsburg Ferry Terminal, which provides service to Manhattan, as well as the Marcy Avenue Station, served by the J, M, and Z trains.
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If AI and robots takeover and a blue tsunami hits these rental buildings will be empty.,