Cushman & Wakefield Arranges $56M Refi for BK MF Property

Cushman & Wakefield arranged a $56 million senior loan refinancing for Quinlan Development Group for 230 Classon Avenue in Brooklyn. The fixed rate loan was provided by QuadReal. Cushman & Wakefield’s team, including Gideon Gil, Zach Kraft and Sebastian Sanchez, represented the borrower.

Located in the Clinton Hill submarket near the Pratt Institute. 230 Classon Avenue offers 138 units and amenities, including a private park, co-working lounge, game deck, 97 parking spaces, a penthouse sky lounge, rooftop grills and a fitness center.

“As evidenced by the competitive bidding process, there continues to be robust demand and available capital for best-in-class multifamily assets.” Gil said. “We are incredibly proud to have delivered The Parish ahead of schedule and under budget to a Clinton Hill market hungry for new open market and affordable housing, as evidenced by the strong operational performance to date,” says Tyler Wilkins, partner at Quinlan Development Group.