search

The Real Deal Logo

Trending

Macerich faces “imminent” default on $300M Santa Monica Place loanMacerich faces “imminent” default on $300M Santa Monica Place loanLawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421aParkmerced's $1.8B debt heads to special servicingParkmerced's $1.8B debt heads to special servicingMarty Burger’s new venture sputters on takeoffMarty Burger’s new venture sputters on takeoff
New York

Catsimatidis lands $200M refi for Downtown Brooklyn project

Developer received money for the Eagle from Santander Bank

86 Fleet Place in Brooklyn and John Catsimatidis
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.

Sign Up for the undefined Newsletter

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

Tags
BrooklynJohn CatsimatidisReal Estate Finance