Catsimatidis lands $200M refi for Downtown Brooklyn project

Developer received money for the Eagle from Santander Bank

TRD New York /
Mar.March 11, 2019 11:00 AM

86 Fleet Place in Brooklyn and John Catsimatidis

Santander Bank has provided John Catsimatidis’ Red Apple Group with a $200 million refinancing package for its Downtown Brooklyn project the Eagle.

The debt for the 32-story project at 86 Fleet Place consolidates and replaces $170 million in financing that Bank of America gave the project in 2015, according to Commercial Observer.

Red Apple completed the tower in 2017, and it is the final residential piece of his four-building development along Myrtle Avenue. The other three are named for his family members: the Andrea at 218 Myrtle Avenue, the Margo at 180 Myrtle Avenue and the Giovanni at 81 Fleet Place.

The Eagle includes 440 units and 34,000 square feet of amenities, including a gym, a private dog run and a sundeck. [CO] – Eddie Small


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

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

Brookfield's largest-ever $15B property fund has invested in properties from New York (666 Fifth Avenue) to Bangalore (the Leela Palace hotel) (Credit: Brookfield, Getty Images, Leela)

Real estate fundraising hits lowest level since 2013

Investment sale dollar volume in Brooklyn fell 30% in 2019, the biggest drop since the financial crisis. (Credit: iStock)

Brooklyn i-sales see biggest drop since financial crisis

John Catsimatidis

John Catsimatidis on why he should be mayor

Some investors continue to find U.S. commercial real estate as attractive places to park their capital (Credit: iStock)

Brexits and Bubbles: How investors view Europe’s shaky real estate market

The sites at 1900 Shore Parkway, 1894 Shore Parkway along Bay 41st Street in Gravesend (Credit: Google Maps)

Abraham Fructhandler’s FBE buys South Brooklyn sites for $58M

Heritage Equity Partners Toby Moskovits and Michael Lichtenstein

Lawsuit: Toby Moskovits, Michael Lichtenstein owe investor $3M

arrow_forward_ios
Loading...