Feb
20
Brooklyn Waterfront Hotel Lands $80M in Financing
ByThe 10-story project marks the third property and first ground-up development for Starwood’s luxury 1 Hotels brand.
New York—Capital One has provided an $80 million construction/mini-perm loan to a joint venture between the Starwood Capital Group and Toll Brothers, for the soon-to-be-completed 1 Hotel Brooklyn Bridge, a 194-key property on the Brooklyn waterfront.
Capital One previously provided a $160 million loan to finance the project’s initial construction, which also included a 107-unit recently completed condominium building…