Apollo Lends $178M on Brooklyn’s 25 Kent

reprints


Rubenstein Partners has nabbed an $178 million debt package to refinance its trophy mixed-use building at 25 Kent Avenue in Williamsburg, Brooklyn, Commercial Observer has learned.

Apollo Commercial Real Estate Finance provided the loan for the eight-story office and retail property. Newmark arranged the financing with a team led by Dustin Stolly and Jordan Roeschlaub alongside Nick Scribani, Chris Kramer, Ben Kroll and Holden Witkoff.  

SEE ALSO: MRR Secures $170M Loan for Billionaires’ Row Tower

Occupying a full city block between Wythe and Kent avenues, the 500,000-square-foot building was billed as Brooklyn’s first Class A major new construction office building in around half a century when it opened just before the COVID-19 pandemic. 

The asset features glass paneling and 360-degree views, while property amenities include fitness center, rooftop lounge and bar area. It also offers a parking garage with 275 car spaces, 150 bike spaces and electric charging stations. 

Luxury fashion brand Kith signed on as 25 Kent’s anchor tenant in December 2019 with 57,679 square feet of office space after opting to relocate from its SoHo location. Randolph Beer also leased 12,228 square feet of retail and industrial space in the building in early 2020. 

Officials for Rubenstein did not immediately return a request for comment. Apollo declined to comment. 

Andrew Coen can be reached at acoen@commercialobserver.com.