Sumitomo Mitsui Trust Provides $231.8M Construction Loan For Greenpoint Development Site

A development site located at 16 Dupont Street in Greenpoint, Brooklyn has been involved in a recent loan transaction. The loan, amounting to $231,794,514, was provided by Sumitomo Mitsui Trust, with Takezo Oda representing the lender. The property's asset type is a development site, indicating its potential for further construction and expansion.

Summary of transation details

• Property Type: Development site
• Transaction Amount: $231,794,514
• Units: 378
• Loan Type: Construction

The property's landlord is a collaboration between Rockefeller Group, represented by Meg Brod, and Park Tower Group. This partnership highlights the involvement of key individuals and companies in facilitating the transaction. The development site, with its prime location in Greenpoint, Brooklyn, is poised to attract attention from developers and investors seeking opportunities in the area's real estate market.