JP Morgan, Citi Lead $462M Refi of Brookfield’s Eagle + West in Brooklyn

Brookfield Properties secured a $462 million refinancing for its luxury rental complex Eagle + West, at 1 Eagle Street in Greenpoint, Brooklyn, from J.P. Morgan Chase and Citi Real Estate Funding, the commercial real estate lending arm of Citigroup.

A Moody’s report indicates that the refinancing includes a $400 million commercial mortgage-backed securities loan securitized in the BFLD Trust 2025-EWEST single-asset, single-borrower deal, plus roughly $62 million in mezzanine debt from an unnamed lender. 

Pincus Co. first reported the senior loan. 

“The certificates are collateralized by a first-lien mortgage on the borrower’s fee simple interest in 1 Eagle Street,” Moody’s reported. The complex was built in 2022 and counts just over 30 percent of its apartments as affordable. 

Blackstone Mortgage Trust provided a loan on the two-tower, 745-unit project for $400 million in July 2021, according to public records.

Brookfield and an attorney involved in the deal did not respond to requests for comment. J.P. Morgan Chase declined to comment.  

Market rates for available units at Eagle + West currently fall from $3,560 to $3,995 for studios, $4,771 to $5,761 for one-bedrooms, and $6,199 to $8,729 for two-bedrooms, according to StreetEasy.

While Moody’s has rated the complex A+, it turns out some residents might disagree. A Curbed article from April 2025 titled “Mice, Hair Balls, and ‘Poltergeist’ Noises” reported that residents at Eagle + West have faced troubles, including filthy amenity spaces, consistently nonworking elevators, holes in walls going unrepaired for months, and pipes behind walls making “sharp, hollow clicking noises” in the middle of the night.    

Larry Getlen can be reached at lgetlen@commercialobserver.com