These were the top outer-borough real estate loans in December
The top spot went to a $217M loan for Empire Stores
New York /
Clockwise from top left: Empire Stores, Industry City, Dime Savings Bank and the Williamsburg Hotel
The biggest outer-borough loan of December took place right along Brooklyn’s waterfront on the aptly named Water Street.
The $217 million loan from M T Bank and the Brooklyn Bridge Park Development Corporation to Midtown Equities for its Empire Stores project took the No. 1 spot on December’s list of loans in the outer borough, followed closely by Bank of China’s $196 million loan for Industry City. Other large loans for December included $150 million for the Dime in South Williamsburg and $92 million for the Parkline in Prospect-Lefferts Gardens.
Brooklyn’s presence on the list was extremely dominant, nabbing eight of the top 10 spots, while Queens and the Bronx each only had one loan apiece, and Staten Island had zero. The full list of top 10 loans for December is as follows:
1. Empire State of Mind — $217 million
M T Bank and the Brooklyn Bridge Park Development Corporation loaned Midtown Equities, Rockwood Capital and HK Organization $217 million for Empire Stores at 55 Water Street, taking the top spot for biggest outer borough loans in December. The loan consolidates and replaces $117 million in prior financing from[……]