Scott Rechler Of RXR Realty Secures $143M Refinance Loan From New York Life Insurance In Dumbo

The asset involved in this transaction is a 320-unit rental condo located at 160 Front Street in Dumbo, Brooklyn, with a total square footage of 312,821. The property is secured with a refinancing loan amount of $143,000,000 from New York Life Insurance Company, replacing an earlier debt of $154 million from Capital One.

Summary of transation details:

• Property Type: Condo
• Transaction Amount: $143,000,000
• Lender: New York Life Insurance
• Landlord: Scott Rechler - RXR Realty
• Previous Debt: $154,000,000 from Capital One

This transaction involved key individuals and firms where Scott Rechler represents RXR Realty as the landlord in the refinancing agreement. New York Life Insurance Company provided the loan, signifying a strategic financial maneuver in managing the property’s debt profile.