The Real Deal New York

Cammeby’s lands $135M refi for Brighton Beach apartment building

Capital One provided the debt
By Mary Diduch | March 05, 2019 06:48PM

Cammeby’s International Group founder Ruby Schron and 3000 Ocean Parkway

UPDATE, March 6, 2018, 4:15 p.m.: Cammeby’s International Group just landed a refinancing for a massive apartment building built by the late Fred Trump in the 1960s.

Capital One provided a $135.4 million Freddie Mac loan to finance Shorecrest Towers at Trump Village, according to property records filed with the New York City Department of Finance. The buildings, located at 2940 and 3000 Ocean Parkway, have more than 880 apartment units combined.

Capital One did not immediately return a request for comment. Cammeby’s could not be reached.

The 23-story Shorecrest Towers sit two blocks from the beach and was built in the 1960s. It was rebranded and underwent a renovation that featured design work by Andres Escobar & Associates.

In July, the bank also provided Cammeby’s with a $58.4 million mortgage to refinance 10 Stanton Street, an apartment building in the Lower East Side.

Cammeby’s is working on a 42-story mixed-use complex near its Shorecrest Towers, at 532 Neptune Avenue. The project, which is replacing the Trump Village Shopping Center, will have 576 residential units and stand as the tallest tower in Coney Island.

Update: This story was updated to include new information about the total loan package.