Naftali and Access Real Estate Close on $374M Refi for Phase I of Williamsburg Wharf
Naftali Group and Access Real Estate have closed on a $374.35-million refinancing for Phase I of Williamsburg Wharf, Naftali’s 3.75-acre master-planned development along Williamsburg’s East River shoreline. The refinancing was provided by Barings.
Walker & Dunlop Institutional Advisory, led by Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Dustin Stolly, Sean Reimer, Ari Hirt, and Stanley Cayre, arranged the transaction.
Since opening to residents last summer, Two, Three, and Four Williamsburg Wharf, the development’s luxury rental offerings, have already reached more than 90% leased across more than 500 apartments. One Williamsburg Wharf, the project’s first luxury condominium offering, also opened to residents last year, with a limited number of residences remaining.
“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,” said Miki Naftali, CEO and chairman of Naftali Group.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout