JPMorgan Chase & Co. and GoldenTree Asset Management financed a $525 million construction loan for a development along the Williamsburg waterfront in Brooklyn.
The loan will help complete the second phase of Williamsburg Wharf, a project from New York-based developer Naftali Group in partnership with investment firm Access Industries. The 3.75-acre development on 80 Wharf Way will include 363 condos across two luxury residential towers along the East River.