TF Cornerstone lands $266M loan for DoBro rental building

Loan for 33 Bond Street comes from M&T Realty Capital

TRD New York /
Jul.July 02, 2018 04:42 PM

Tom and Fred Elghanayan and 33 Bond Street (Credit: TF Cornerstone)

TF Cornerstone has landed a loan for $265.7 million from M&T Realty Capital Corporation for its luxury rental building at 33 Bond Street in Downtown Brooklyn.

M&T will assume the existing $250 million mortgage on the property and provide $15.7 million in new financing, according to property records.

Representatives for M&T and TF Cornerstone did not immediately respond to requests for comment.

The Bond Street building contains 714 residential units and spans almost 600,000 square feet. The entertainment company behind Chelsea Piers leased 52,000 square feet at the property last summer for a new fitness club.

Yoel Goldman’s All Year Management and Joel Gluck’s Spencer Equity landed a $117.5 million loan for their Downtown Brooklyn rental building at 436 Albee Square last month.

Related Articles

Brokerage firms are strategizing ways to make up losses after the cost of application fees was capped at $20. (Credit: iStock)

Brokerages on rental application fee cap: “It hurts”

An example of roll-off waste management (Credit: YouTube, iStock)

Big building owners prevent city from dumping container-pickup in trash-collection reform

Alex Rodriguez (Photos by Guerin Blask)

A-Rod is coming for NYC and SoFla real estate

“I can talk about erections all day”: NAR tech consultant’s bizarre fireside chat

There will be 70 agents based at the new office (Credit: iStock)

Compass opens Long Island City office as new-development sales surge

The Daily Digest - Tuesday

New life for Toys “R” Us, Masa Son is “embarrassed” with the Vision Fund: Daily digest

Nooklyn CEO Harley Courts (Credit: iStock)

Brokerage slashes agent commissions, delays payments after rent law change

The Daily Digest - Tuesday

NYC apartment prices hit 4-year low, Pacific Park developers reveal new plans: Daily digest