JBA Equities Secures $38 Million in Financing for 30 Kent Street in Greenpoint, Brooklyn

30 Kent Street in Greenpoint, BrooklynRendering of 30 Kent Street in Greenpoint, Brooklyn

JBA Equities has successfully arranged a $38 million deal in construction financing for a ground-up rental building in Greenpoint, Brooklyn. The 11-story development will include 80 residential units, 4,828 square feet of retail space, and 34 parking spaces.

Financing was provided by M&T Bank for the 86,067-square-foot property with a joint venture between BNS Real Estate and Wonder Works Construction Corp. as the borrower, reported Real Estate Weekly.

Construction is expected to take two years to complete, although no start date has been announced.

30 Kent Street will have 56 market-rate units and 24 affordable units, all with open layouts, nine-foot ceilings, and central HVAC. Building amenities will include a laundry room, gym, a virtual doorman, lobby with an outdoor garden space, landscaped ground floor, and community room on the rooftop.

Located between the East River and West Street, the new development will sit adjacent to WNYC Transmitter Park and have unobstructed waterfront views of the Manhattan skyline. The Greenpoint Avenue subway station is only two blocks east with access to the G train.

Subscribe to YIMBY’s daily e-mail

Follow
 the YIMBYgram for real-time photo updates
Like YIMBY on Facebook
Follow YIMBY’s Twitter for the latest in YIMBYnews

The Chatsworth Horizon
.

1 Comment on "JBA Equities Secures $38 Million in Financing for 30 Kent Street in Greenpoint, Brooklyn"

  1. Since this development will be profiting from being adjacent to a public waterfront park (and blocking its light),
    both the community and its politicians need to encourage the developer to help fund maintenance and/or improvements in the park.

    0

Leave a comment

Your email address will not be published.


*