An affiliate of GFI Capital Resources has secured $195 million in refinancing for The Beekman, a historic landmarked hotel in Manhattan’s Financial District. The deal included a $130 million senior loan with Bank OZK arranged by Newmark and a $65 million subordinate financing raised from bond investors on the Tel Aviv Stock Exchange.
The affordable housing lottery has launched for 2809 Clarendon Road, a seven-story residential building in Flatbush, Brooklyn. Designed by NY Building Associates Inc., the structure yields 16 residences. Available on NYC Housing Connect are five units for residents at 130 percent of the area median income (AMI), ranging in eligible income from $58,286 to $167,570.
Façade installation has begun on 350 Butler Street, a topped-out 11-story residential building in Park Slope, Brooklyn. Designed by Queens-based Robert Litchfield Architect and developed by The Brooklyn Home Company under the 346 Butler LLC, the 116-foot-tall, 48,572-square-foot, structure will yield 31 units. Titan Realty & Construction LLC is the general contractor for the project, which stands between Fourth Avenue and Gregory Place.
Plank Road, a new residential property within Brooklyn’s Pacific Park redevelopment zone, is now more than 50 percent leased, according to developer The Brodsky Organization. Designed by Marvel Architects, the 27-story building is located at 663 Pacific Street in Prospect Heights and yields 312 rental apartments ranging from studios up to two-bedrooms. A total of 94 apartments are set aside as affordable housing. The lower levels of the building will also house a new public middle school.
Permits have been filed for an 18-story residential building at 27 Rockwell Place in Fort Greene, Brooklyn. Located between Fulton Street and Dekalb Avenue, the interior lot is two blocks from the Dekalb Avenue subway station, serviced by the B, Q, and R trains, and the Nevins Street station, serviced by the 2, 3, 4, and 5 trains. Chesky Rosen under the 19 Rockwell Place LLC is listed as the owner behind the applications.