Watermark Capital and its joint venture partner, Rubin Equities have secured a $210 million loan to build its mixed-use tower in Brooklyn, New York.
The debt will serve as the construction financing to support the 497 residential units at the development in the Sunset Park neighborhood. In addition to residential components, the 28-story site at 6208 Eighth Avenue is set to include 100,000 square feet of retail space. Plus, an amenity package is scheduled to come to fruition that includes a rooftop terrace, a fitness center, a yoga room, coworking spaces, a screening room, and a sauna.
S3 Capital provided the loan, while Arrow Real Estate Advisors brokered the deal. Robert Schwartz, co-founder and partner at S3 Capital touted the fundamentals of Sunset Park.
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