Two Trees lands $85M refi for Dumbo’s
45 Main Street

Loan comes from JP Morgan and includes a $70M mortgage

TRD New York /
May.May 28, 2019 05:43 PM
45 Main Street in Brooklyn and Two Trees principal Jed Walentas

45 Main Street in Brooklyn and Two Trees principal Jed Walentas (Credit: Getty Images)

JP Morgan has provided $85 million to refinance Two Trees Management’s office building at 45 Main Street in Dumbo, according to property records.

The deal includes a new mortgage for $70 million.

JP Morgan did not immediately respond to requests for comment, and Two Trees declined to discuss the financing.

The building stands 12 stories tall and spans 475,000 square feet, and Bjarke Ingels’ architecture firm BIG-Bjarke Ingels Group signed a 50,000-square-foot lease at the property in 2017.

Two Trees, run by the Waltenas family, just topped The Real Deal’s list of the most active Brooklyn developers for the second year in a row, with 1.2 million square feet under construction in the borough, including the redevelopment of Williamsburg’s Domino Sugar Factory.

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