Brooklyn Crossing in New York City

MT&T Realty Capital Provides $414.8 Million Refinancing for 51-Story Tower in Brooklyn

by Channing Hamilton

NEW YORK CITY — M&T Realty Capital Corp. has provided a $414.8 million Freddie Mac conventional loan to refinance debt on Brooklyn Crossing, a 51-story high-rise community in Brooklyn. M&T Realty Capital is a wholly owned subsidiary of M&T Bank (NYSE: MTB). The borrower was The Brodsky Organization.

Brooklyn Crossing features 858 apartments in studio, one-, two- and three-bedroom layouts. Of the total unit count, 258 are dedicated as affordable. Income restrictions for these units were not disclosed. Community amenities include a screening room, rooftop terrace and lounge, fitness center and pool. According to the property website, studio apartments rent for approximately $3,500 a month and three-bedrooms for approximately $9,000.

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