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Extell Closes on $530M Brooklyn Point Financing

The 720-foot tall skyscraper at the City Point development offers the highest rooftop pool in the city.

Rooftop pool, Brooklyn Point The rooftop pool at Extell’s Brooklyn Point

NEW YORK CITY—Extell Development Company has closed on $530 million in financing for Brooklyn Point at 138 Willoughby St. This is the firm’s first development in Brooklyn and at 720 feet high, it includes some attention attracting luxury features—such as the highest rooftop pool in the city. It is the only for-sale housing, the third tower, in Downtown Brooklyn’s City Point, a 1.8 million square-foot mixed-use development.

The financing consists of a $425 million senior construction loan syndication led by M&T Bank and a $105 million mezzanine loan from RXR Realty.

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Betsy Kim

Betsy Kim

Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.

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