Eliot Spitzer’s 420 Kent nabs $386M refi

KKR Real Estate Finance Trust provided loan for the luxury rental in Williamsburg

May.May 28, 2019 11:00 AM
Eliot Spitzer and 420 Kent Avenue (Credit: Getty Images)

Eliot Spitzer and 420 Kent Avenue (Credit: Getty Images)

Eliot Spitzer’s Spitzer Enterprises has landed a $386 million refinancing package for its luxury multifamily development at 420 Kent Avenue on the Williamsburg waterfront.

The loan came from KKR Real Estate Finance Trust, and Meridian Capital Group negotiated the refinancing, according to Commercial Observer.

The large rental project is located on a 2.8-acre site between South 8th and South 9th Streets. It spans 1.5 million square feet and includes three glass towers with 857 units, largely studios and one-bedrooms.

It also includes 20,000 square feet of retail and restaurant space, 25,000 square feet of indoor amenities and 80,000 square feet of outdoor space. [CO]Eddie Small

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