Dwight Mortgage Trust Refis Brooklyn Resi Tower With $108M Loan
By Andrew Coen March 15, 2024 10:33 am
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Commercial real estate investors Solomon Rubin and Chesky Rosen have landed a $108.2 million bridge loan to refinance a new high-rise apartment building in Brooklyn, Commercial Observer has learned.
Dwight Mortgage Trust, the affiliate real estate investment trust of Dwight Capital, provided the loan on The Shoreline, a 31-story multifamily development along Gravesend Bay scheduled to debut this year. Loan proceeds will be used to refinance prior debt and provide capital to complete construction and lease-up.
Located at 2230 Cropsey Avenue in Brooklyn’s Bath Beach neighborhood, the 248-unit building will feature apartments ranging from studios to two-bedrooms along with 28,610 square feet of retail space. Property amenities will include a pool, fitness center, game room, and lounge with a sky deck.
The property was designed by Hill West Architects and constructed by NY Developers & Management.
Officials for Dwight, Rubin and Rosen did not immediately return requests for comment.
Andrew Coen can be reached at acoen@commercialobserver.com
