237 Duffield St.
NEW YORK CITY- NorthMarq, a commercial real estate lender, has secured a $51.8 million Freddie Mac loan to refinance the BRiQ, a 21-story, Class-A mixed-use property at 237 Duffield St. in Brooklyn.
Completed this Fall, the 110-unit property has 10,600 square feet of commercial space leased to Lightbridge Academy, which occupies the ground and lower levels for a daycare and learning facility.
NorthMarq financed the loan under Freddie Mac's Lease-Up Loan Program, which continues to build upon its existing relationship with the lender.
The BRiQ is located in downtown Brooklyn with walking distance to the Hoyt Street Subway station and shopping areas on Fulton Street.
"Ownership developed the BRiQ with a very high level of finishes that the market has found to be very desirable," said Robert Delitsky, managing director of NorthMarq's New York City office, in a prepared statement. "Lease up has been very strong since the property opened last fall. Freddie Mac did an outstanding job understanding the dynamics of the marketplace."
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Mariah Brown
Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.
