Affinius Capital LLC today announced the closing of a $160 million loan to refinance 101 Fleet Place, a 294-unit multifamily property under construction in downtown Brooklyn, NY. The loan was made to New York-based developer The Jay Group, and will be used to complete the remaining construction of the property and lease the property to stabilization.
101 Fleet Place, a luxury 21-story multifamily building, will offer 294 units split between studios, one-bedrooms, two-bedrooms, and three-bedrooms. Amenities at the property will include 60 parking spaces below grade, a rooftop deck offering New York City skyline views, a fitness center, shared workspace, a children’s playroom, a game room, a movie theater, outdoor recreation areas, and a pickleball court. The property is near numerous subway lines, the 30-acre Fort Green Park, and Fulton Street Mall, which offers a vast array of notable retailers, restaurants, grocers, and entertainment.
Affinius Capital Vice President Perry Katz commented, “101 Fleet is a high-quality luxury multifamily project in downtown Brooklyn, a market that we continue to have strong conviction in and where we expect to see continued tailwinds supporting best-in-class assets. We were delighted to partner with The Jay Group on this transaction.”
The financing was arranged by Henry Bodek of Galaxy Capital.
About Affinius Capital LLC
Affinius Capital® (previously known as USAA Real Estate and Square Mile Capital Management) is an integrated institutional real estate investment firm focused on value-creation and income generation. With a 40-year track record and $32 billion in net assets under management, Affinius has a diversified portfolio across North America and Europe providing both equity and credit to its trusted partners and on behalf of its institutional clients globally. For more information, visit www.affiniuscapital.com.
