A condo project in Greenpoint has secured a $21 million loan from Northwind Group, according to Crain’s New York Business, which listed the deal in its Morning 10 newsletter on July 2.
That’s most of what is public so far. Crain’s reported the borrower as a Greenpoint condo project and the lender as Northwind Group, and put the loan at $21 million. The newsletter did not name the building, its address, the developer, or the terms of the financing.
The stage of the project is also unclear from Crain’s summary. A $21 million loan could cover an acquisition, construction, or a refinancing of an existing building, and the newsletter did not specify which. It also did not say how many units the project involves or when it is expected to be finished.
Greenpoint has been one of the more active development corridors on the Brooklyn waterfront, with towers rising along the East River and smaller condo projects filling in blocks further inland. The Crain’s item places this deal in the wave of neighborhood building but doesn’t tie it to a specific site.
Bushwick Daily has not independently confirmed the loan or its terms beyond the Crain’s report. The address, the developer, and the loan terms remain unreported.
