91 North 6th Street.
NEW YORK CITY- L3 Capital has secured a $90 million floating-rate loan to finance a retail portfolio comprised of 11 assets in Williamsburg, Brooklyn, totaling 85,000 square feet in a prime retail corridor. Jones Lang LaSalle arranged the financing for the properties that have significant frontage along North 6th and North 7th Streets, Kent Avenue, Wythe Avenue, and Berry Street.
In 2015, L3 Capital began arranging the portfolio that is in proximity to the Williamsburg waterfront and near the Bedford Avenue subway station. The capital allocator saw favorable fundamentals in the submarket to make the acquisitions because of recent multifamily development projects at the Domino Sugar Factory on 420 Kent Ave. and 285 Broadway, both of which have transformed the demographics of Williamsburg and led to significant commercial growth in the area.
The JLL Capital Markets professionals handling the debt placement include Geoff Goldstein, Rob Rizzi and Brett Rosenberg.
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Mariah Brown
Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.
