The Real Deal New York

Douglaston lands $380M refi for Williamsburg rental tower

Natixis is the lender at 2 North 6th Street
By Konrad Putzier | August 07, 2018 11:32AM

Douglaston Development Chairman Jeff Levine and 2 North 6th Place in Brooklyn (Credit: Douglaston)

Douglaston Development refinanced its Williamsburg rental tower 2 North 6th Street with a $380 million loan from Natixis Capital, property records show.

The new financing package includes a $103.3 million gap mortgage and replaces a $276.7 million construction loan from Capital One, according to documents from the city’s Department of Finance.

The 40-story, 554-unit tower topped out in late 2016, and TCOs were issued in the third quarter of 2017. It is part of Douglaston’s four-building, 2,000-plus unit complex on the Williamsburg waterfront.

Natixis could not immediately be reached for comment. In a statement, Douglaston’s chair Jeff Levine said leasing is “on time and on budget” and that the loan deal went “smoothly.”

Meanwhile, Douglaston, headed by Jeff Levine, plans to develop a 1.1 million-square-foot mixed-use project near Hudson Yards in Manhattan.