The Shoreline in Brooklyn

Dwight Mortgage Trust Provides $108.2 Million Bridge Loan for The Shoreline in Brooklyn

by Channing Hamilton

NEW YORK CITY — Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, has provided $108.2 million in bridge financing for The Shoreline, a mixed-use community in Brooklyn. The borrowers, Solomon Rubin and Chesky Rosen, will use the funds to refinance existing debt and complete the construction and lease-up of the project.

The 31-story building includes 248 apartments, as well as 28,600 square feet of commercial space. Units come in studio, one- and two-bedroom floor plans. The Shoreline also features 25,000 square feet of amenities, including a pool, fitness center, game room and lounge with a wraparound sky deck.

The Shoreline will also benefit from a 421-a tax abatement under the Affordable Housing New York Program, which provides a 35-year reduction.

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