Jacobowitz family lands $65M loan for four Williamsburg properties
Financing comes from Sterling National Bank
Brooklyn developers Bernard and David Jacobowitz secured a $65 million refinancing for four of their apartment buildings in the borough, according to property records.
The package includes an unpaid balance of $36 million from a 2016 loan and a gap mortgage worth $29 million.
Davbel Properties, led by Bernard Jacobowitz, also bought a development site in Borough Park in 2016 for $29.5 million. The company could not be reached for comment.
A fully leased loft building in Williamsburg at 151 Kent Avenue hit the market last month for $52 million, and Largo Investments recently purchased an industrial building in the neighborhood at 215 North 10th Street for $25 million.