J.P. Morgan, GoldenTree Provide $525M Construction Loan for Brooklyn Development

Construction Financing Secured for Brooklyn Waterfront Development

Walker & Dunlop arranged a $525 million construction loan from J.P. Morgan and GoldenTree for the second phase of Williamsburg Wharf, a waterfront development in Brooklyn. The financing will support construction of 80 Wharf Way.

Property Details and Development Scope

Specific details about the number of units, tower heights, amenities, and completion timeline were not disclosed in the available source material. Phase II joins the completed Phase I at the Williamsburg Wharf site.

The development is located along the East River waterfront in Brooklyn. The site's proximity to transportation and other development details were not specified in the available sources.

Transaction Team and Lender Participation

Walker & Dunlop's team included Keith Kurland, Aaron Appel, Dustin Stolly, Jonathan Schwartz, Adam Schwartz, Sean Reimer, Ari Hirt, and Stanley Cayre.

J.P. Morgan and GoldenTree provided the construction financing. The specific roles and contribution amounts of each lender were not disclosed.

Market Context

The deal represents continued lending activity for residential development in Brooklyn. Walker & Dunlop arranged the financing as part of its capital markets advisory services.

Sources

Walker & Dunlop: https://www.walkerdunlop.com/news/jp-morgan-goldentree-525-million-development