Bruce Ratner Family Refinances Williamsburg Multifamily Property At 224 Wythe Avenue For $10.1M

The property asset involved in this transaction is a 20-unit multifamily building located at 224 Wythe Avenue in Williamsburg, Brooklyn. The property has undergone a refinancing process, transitioning from prior debt of $10.5 million from Blackstone to a new loan amount of $10.1 million secured through Cathay Bank.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $10,100,000
• Date: 05/01/2025
• Lender: Cathay Bank
• Landlord: The Bruce Ratner Family

The refinancing was conducted through Olive Partners, LLC, representing The Bruce Ratner Family, which highlights the strategic financial management regarding the property's existing debt obligations.