JLL’s Capital Markets group announced a $370 million, three‑year bridge loan from Brookfield Asset Management to refinance the Society Brooklyn residential development, a 517‑unit, two‑tower project along the Gowanus Canal in Brooklyn.
The loan covers 455,666 sq ft of rentable space, including 385 market‑rate and 132 affordable apartments, and 57,288 sq ft of retail and commercial space. The towers, located at 500 Degraw St. and 504 Sackett St., opened in May 2025 and feature amenities such as fitness centers, yoga studios, coworking spaces, rooftop terraces and pool decks, with nearly 40 % of the units designed as two‑ and three‑bedroom apartments to meet family‑housing demand.
JLL’s involvement underscores its growing presence in the Gowanus market, which has been reshaped by the 2021 rezoning that attracted more than $7.8 billion in private investment and public infrastructure funding. The firm previously arranged $520 million in construction and equity financing for Society Brooklyn in 2023 and secured a $125.5 million loan for the Union Channel building in March 2026, demonstrating its expertise in structuring large‑scale residential finance.
Christopher Peck, Senior Managing Director at JLL, noted that “Society Brooklyn demonstrates the caliber of development that's defining the new Gowanus. The project's prime waterfront location, thoughtful design and strong sponsorship team position it as a standout asset in Brooklyn's evolving residential landscape.” The refinancing signals continued investor confidence in well‑positioned multifamily assets amid a market that remains sensitive to leasing conditions, and it highlights JLL’s ability to navigate complex financing in a rapidly developing urban corridor.
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