Catsimatidis Nabs $200M Santander Loan for Brooklyn Rental Tower
The Eagle is the fourth building in Red Apple Group's Myrtle Avenue development
By Cathy Cunningham March 11, 2019 7:00 am
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John Catsimatidis’ Red Apple Group has landed a $200 million refinance from Santander Bank for The Eagle, its 32-story Downtown Brooklyn apartment tower at 86 Fleet Place, property records show.
The debt replaces and consolidates $170 million in financing from Bank of America from 2015.
The sleek glass tower was erected in 2017 and is Catsimatidis’ final residential tower in Red Apple’s four-building development along Myrtle Avenue. The other three structures—named for Catsimatidis’ family members—are The Andrea at 218 Myrtle Avenue, the Giovanni at 81 Fleet Place and the Margo at 180 Myrtle Avenue.
The three-block development site was purchased from Long Island University for $500 million in 1982, according to CityRealty.
The 440-unit luxury property boasts 34,000 square feet of amenities, including a rooftop garden with views of Manhattan and Brooklyn, a sundeck with cabanas, a kids’ playroom, a fitness center and a private dog run.
Officials at Red Apple Group didn’t immediately return a request for comment. Officials at Santander could not immediately be reached for comment.
