JPMorgan, GoldenTree Lend $525 Million for NYC Condo Towers (1)

JPMorgan Chase & Co. and GoldenTree Asset Management financed a $525 million construction loan for a development along the Williamsburg waterfront in Brooklyn.

The loan will help complete the second phase of Williamsburg Wharf, a project from New York-based developer Naftali Group in partnership with investment firm Access Industries. The development on 80 Wharf Way will include 363 condos across two luxury residential towers along the East River.

Phase 1 of Williamsburg Wharf.

Source: Naftali Group

A team from commercial real estate firm Walker & Dunlop Inc. arranged the financing, led by Keith Kurland, Aaron Appel, Dustin Stolly, Jonathan Schwartz, Adam Schwartz, Sean Reimer, Ari ...