Sherwood expands new debt platform with Yoel Goldman loan

Lender partners with Centennial on $46M Gowanus deal

New York /
Jul.July 24, 2018 02:00 PM

313-331 Bond Street and Jonathan Snider (Credit: Google Maps)

Yoel Goldman’s All Year Management secured a $46 million financing package for a development site at 313-331 Bond Street from Centennial Bank and Sherwood Equities.

Centennial is providing a $30 million senior loan and Sherwood is chipping in a $16 million mezzanine loan.

The mortgage marks the second Gowanus deal for Sherwood’s new mezzanine lending platform within the past six months. In February, it partnered with CIT Bank on a $38 million package to finance the Domain Companies’ acquisition of 420 Carroll Street. The platform, which quietly launched in January, specializes in pre-construction land loans.

Jonathan Snider, who joined Sherwood from Moinian Group in 2016, heads the debt platform.

Sherwood’s expansion into lending comes as a growing number of New York developers launch their own debt funds. In February, Slate Property Group launched a lending vehicle with a $500 million target.

Goldman bought 313-331 Bond Street in March for an undisclosed sum, property records show. The 2-acre site sits next to the Gowanus canal and could benefit from a potential rezoning of the neighborhood.

Goldman, who did not respond to a request for comment, is currently developing a 325-unit mixed-use complex in Greenpoint.


Related Articles

arrow_forward_ios
With a cooling trade war, stocks perform well, including real estate. (Credit: iStock)
Real estate stocks push up this week as U.S.-China trade tensions ease
Real estate stocks push up this week as U.S.-China trade tensions ease
416 West 25th Street and Maverick Real Estate Partners principal David Aviram (Credit: Google Maps and LinkedIn)
Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case
Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case
Mack Real Estate Group's Richard Mack and JPMorgan's Jamie Dimon with a rendering of 123 Melrose Street (Credit: Getty Images and ODA Architecture)
Yoel Goldman sews up long-term funds for Rheingold Brewery Project
Yoel Goldman sews up long-term funds for Rheingold Brewery Project
Meridian Capital’s Ralph Herzka with 165 Central Avenue, 198 Scholes Street, 11 Gunther Place in Brooklyn (Getty, Google Maps, Apartments)
Meridian Capital could get exclusive on All Year’s $1B portfolio
Meridian Capital could get exclusive on All Year’s $1B portfolio
Signature Bank president and chief executive officer Joseph DePaolo (iStock)
“It’s a good time to make loans:” Multifamily lender smashes earnings record
“It’s a good time to make loans:” Multifamily lender smashes earnings record
Brian Kingston, managing partner & CEO, Brookfield's Real Estate Group and Brookfield Property Partners, in front of Two Blue Slip in Greenpoint (Brookfield Property Partners, Two Blue Slip, iStock)
Brookfield scores $330M refi at Greenpoint Landing
Brookfield scores $330M refi at Greenpoint Landing
Sam Chandan will head NYU Stern’s real estate programs  (samchandan.com, iStock)
NYU Schack Institute Dean Sam Chandan stepping down to join Stern
NYU Schack Institute Dean Sam Chandan stepping down to join Stern
1009-1011 South Congress Avenue and Turnbridge's Andrew Joblon (Music Lane ATX, LinkedIn)
Exclusive: Turnbridge Equities closes $500M Texas recap deal
Exclusive: Turnbridge Equities closes $500M Texas recap deal
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...