Naftali Group and Access Real Estate's massive Brooklyn residential project, Williamsburg Wharf, has landed $374.35 million to refinance Phase 1, which is already getting closer to being fully leased.
Phase 1 consists of One, Two, Three and Four Williamsburg, which are located across three buildings. Across Two, Three and Four alone, occupancy has exceeded 90 percent through over 500 apartments after first hitting the market in the summer of 2025.
The loan size speaks to the demand for waterfront product in New York City, according to the co-developers of the project.
Walker & Dunlop arranged the refinancing, while Barings provided it.
"Securing this refinancing with Barings, our existing lender, further validates Naftali's vision and Access' conviction in the strength of this market and location," Jonah Sonnenborn, senior managing director and head of Access Real Estate, said in a statement.
"The rapid lease-up demonstrates strong demand for well-located residential communities that offer exceptional live-work-play experiences."
Every building inside Phase 1 consists of private entrances and more than 20,000 square feet of amenities. Some of the amenities include a rooftop pool that becomes an ice-skating rink during the winter, a fitness center, a yoga studio, a dog run and terraces.
Williamsburg Wharf also consists of retail, with one tenant already opening — The Goods Mart. Also, a restaurant and a Breads Bakery shop are scheduled to open later in 2026. The site at 470 Kent Avenue is near the South Williamsburg Ferry Terminal and the Brooklyn Navy Yard. The project also features outdoor gathering areas, a public park and an open lawn.
Phase 2 of Williamsburg Wharf is currently underway, with Phase 1 almost finished in its entirety.
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