Naftali, Blavatnik score $525M in construction loans for Williamsburg Wharf
Miki Naftali and Len Blavatnik snagged $525 million in construction loans for their waterfront megaproject in Williamsburg. JP Morgan Chase and GoldenTree Asset Management agreed to back the second phase of the massive Williamsburg Wharf project, the developers announced on Thursday. The Naftali Group and Access Industries will use the floating rate, interest-only loans to build more than 360 condos across two residential towers known as 80 Wharf Way, which is expected to be completed in 2028. The planned condos will join Williamsburg Wharf’s three existing towers, currently comprised of 89 condos, 500 luxury rental apartments and 15,000 square feet […]
This article originally appeared on The Real Deal. Click here to read the full story.
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