Pink Stone Takes $52M Gap Loan on Downtown Brooklyn Project
Pink Stone Capital received a $52 million gap loan backed by Brooklyn’s 180 Nassau Street from Investors Bank, according to records filed with the city.
The 10-story multifamily building, in Downtown Brooklyn, began renting apartments last September, according to StreetEasy. The 104-unit building offers residents a gym, rooftop deck and a bike room.
Pink Stone bought a $9.2 million note in foreclosure on the property in July 2011 from New York Community Bank, according to previous reports, and closed on the $11.3 million purchase of the building in February 2012, according to city records.
The building, between Bridge and Duffield Streets, was previously occupied by Mayfair Ship Supplies.
A Pink Stone representative declined to comment.