The Jay Group has secured $300 million to refinance 102 Fleet Street, a 495-unit luxury multifamily property in Downtown Brooklyn, Commercial Observer can first report.
Affinius Capital provided the new debt, which will be used to finance the completion of construction and lease the property into stabilization. Henry Bodek of Galaxy Capital arranged the financing.
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Perry Katz, Affinius Capital senior vice president, in a statement, described 102 Fleet Street as an asset that benefits from top-flight amenities, “an ideal Downtown Brooklyn location,” and the experienced sponsorship of The Jay Group, which Affinius has worked with across three previous financings.
“102 Fleet Street … exemplifies the high-quality multifamily assets we actively seek to finance,” Katz added.
102 Fleet Street sits just off the intersection of Flatbush and DeKalb avenues in the heart of Downtown Brooklyn, near Barclays Center, Fort Greene Park, and Fulton Mall. The building will stand 30 stories and include 3,700 square feet of ground-floor retail space.
The luxury tower will feature 108 studios, 97 one-bedrooms, 262 two-bedrooms, and 28 three-bedrooms, as well as include a rooftop pool, a gym, a co-working space, a pet spa, an indoor climbing wall, and several pickleball courts.
The Jay Group acquired the land it is building 102 Fleet Street over in 2024 in a $62.5 million acquisition deal.
Across the street, the firm recently finished construction of 101 Fleet Street, a 21-story, 294-unit multifamily building also going up in Downtown Brooklyn.
The Jay Group did not respond to requests for comment.
Brian Pascus can be reached at bpascus@commercialobserver.com.