Barings Refis Williamsburg Wharf With $374M Loan
By Andrew Coen May 18, 2026 11:12 am
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A joint venture between Naftali Group and Access Industries has landed a $374.35 million loan to refinance a master-planned residential development along the Williamsburg waterfront in Brooklyn, Commercial Observer can first report.
Barings supplied the loan for the first phase of the sponsorship’s Williamsburg Wharf project featuring 89 condominiums, 518 apartments and 15,000 square feet of retail space across three buildings. The development inked retail tenants that include The Goods Mart and Breads Bakery along with a restaurant from chef Eyal Shani.
Walker & Dunlop arranged the transaction with a team consisting of Aaron Appel, Keith Kurland and Dustin Stolly.
“Williamsburg Wharf offers truly unprecedented waterfront living in New York City, and we’re thrilled to see our vision come to life and to see how quickly renters and buyers have embraced it,” Miki Naftali, CEO and Chairman of Naftali Group, said in a statement. “We remain incredibly optimistic about the long-term future of this development and our role in the continued evolution of the Williamsburg waterfront.”
Located at 470 Kent Avenue and adjacent to the Brooklyn Navy Yard, Phase 1 of Williamsburg Wharf includes amenities such as a rooftop pool deck, an outdoor fitness center, a yoga studio and a private dog run. The second phase of the 3.75-acre development will consist of two buildings with 363 condos.
Jonah Sonnenborn, senior managing director and head of real estate for Access Industries, said in a statement that the refi “further validates Naftali’s vision and Access’ conviction in the strength of this market and location.”
“This refinancing reflects Barings’ conviction in high‑quality, well‑located residential assets that are demonstrating strong leasing momentum,” Jonathan Neff, managing director at Barings, said in a statement. “Williamsburg Wharf has established itself as a premier waterfront destination, supported by durable demand fundamentals and experienced sponsorship, making it a compelling long‑term investment.”
Andrew Coen can be reached at acoen@commercialobserver.com.
