[[{“value”:”
Affinius Capital LLC has closed a $300 million refinancing loan for 102 Fleet, a Class A multifamily development in Brooklyn. The 30-story property is planned to include 495 residential units along with 3,700 square feet of ground-floor retail space. The financing is being provided to The Jay Group, with loan proceeds earmarked to finish the remaining construction and carry the asset through lease-up to stabilization.
Affinius is positioning the transaction as part of its broader focus on high-quality multifamily lending. According to Perry Katz, senior vice president at Affinius, 102 Fleet combines premier amenities with a central Downtown Brooklyn location and experienced sponsorship. Katz noted that this closing marks the fourth transaction the lender has completed with The Jay Group, underscoring what Affinius describes as a relationship built on trust and consistent execution.
The capital stack for the project now includes this new loan from Affinius, which is specifically structured to support the project through the final stages of development and initial occupancy period. With 495 units, the building represents a sizable addition to the local multifamily inventory, while the 3,700 square feet of retail at the base is intended to activate the street frontage and serve residents and visitors.
The financing was arranged by Henry Bodek of Galaxy Capital, who served as intermediary on the transaction. Affinius cited the strength of the sponsorship and the property’s positioning within Downtown Brooklyn as key elements underpinning the deal. The location at 102 Fleet Place offers direct access to multiple transit options, as well as proximity to major employment centers and entertainment venues in the borough.
Affinius also highlighted the property’s connectivity to nearby destinations such as Barclays Center, Fort Greene Park and Fulton Mall. Fulton Mall, in particular, is described as a corridor with a broad mix of retailers, restaurants and grocery options, contributing to the neighborhood’s appeal for residents. Together, these attributes form part of the lender’s rationale for targeting 102 Fleet as an example of the type of multifamily asset it is actively seeking to finance.
As 102 Fleet advances toward completion and lease-up, the new loan is intended to carry the project through to a stabilized operating position. The repeat engagement between Affinius and The Jay Group on this and three prior transactions signals an ongoing financing relationship focused on large-scale multifamily product in urban, transit-accessible locations.
The post Affinius Capital Lends $300M to Refinance 102 Fleet Multifamily Tower in Downtown Brooklyn appeared first on CRE Market Beat.
“}]]
