125 Borinquen

Location: Brooklyn, NY
Type: Multifamily
Price: $52,000,000

SMC funded a $52,000,000 first mortgage loan to refinance 125 Borinquen. The loan has a 10 year term with full term interest only payments. The property is a Class A multifamily located in Williamsburg, Brooklyn, NY. Completed in September 2018, the 125-units have high-end finishes with large, island kitchens, airy windows, tiled bathrooms, hardwood flooring throughout and stainless steel appliances. Additionally, many of the units have an outdoor balcony. Property amenities include parking, a game-room, laundry facilities, multi-level fitness center, roof terrace, landscaped courtyard, and bicycle storage. The property includes 6,353 SF of commercial space.