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.

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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