Carlyle, Z+G sign $33.6M refi with Walker & Dunlop for rental in Brooklyn Heights

Carlyle Group and Z+G Property Group through the entity 75 Clinton Street Owner, L.L.C. as borrower signed a refi loan with lender Walker & Dunlop valued at $33.6 million for the 74-unit rental condo at 75 Clinton Street in Brooklyn Heights, Brooklyn.
The deal closed on May 21, 2026 and was recorded on June 2, 2026. The prior lender was TD Bank which held debt that had an original loan amount of $38.6 million.The property has 78,023 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $430 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The owners bought the property on December 12, 2022, for $66.2 million. The signatory for Carlyle Group  and Z+G Property Group was Carlyle’s Jason Hart . The signatory for Walker & Dunlop was Natalie Hamilton Miller .

The property

The rental condo with 74 residential units in Brooklyn Heights has 78,023 square feet of built space according to a PincusCo analysis of city data. The parcel has a total lot size of 78,023 square feet. The property has a J-51 exemption that started in 2019 and expires in 2033. The city-designated market value for the property in 2022 is $23.7 million. Walker & Dunlop on May 21, 2026 bought a loan with an original principal of $38.6 million from TD Bank signed by John Fagan , secured by 75 Clinton Street, when owned by Carlyle Group .

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has not received any significant violations in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The block

On this tax block, PincusCo has identified the owners of 10 of the 12 commercial properties representing 921,712 square feet of the 1,262,899 square feet. The largest owner is CIM Group, followed by Equity Residential and then Quinlan Development Group.
On the tax block, there was one new building construction project filed totaling 110,000 square feet. It is a 121-unit, 110,000 square-foot residential (R-2) building submitted by Aurora Capital Associates and filed by Matthew Abreu with plans filed April 1, 2019 and permitted February 5, 2021.

The majority, or 60 percent of the 1.3 million square feet of built space are office buildings, with elevator buildings next occupying 36 percent of the space.

The borrower

The PincusCo database currently indicates that Carlyle Group owned at least 416 commercial properties with 4,428 residential units in New York City with 5,529,611 square feet and a PincusCo-determined asset value of $4.6 billion. The portfolio has $952.7 million in debt, with top three lenders as PGIM Real Estate, Invesco, and Prudential Financial respectively. Within the portfolio, the bulk, or 26 percent of the 5,529,611 square feet of built space are elevator properties, with industrial properties next occupying 23 percent of the space. The bulk, or 40 percent of the built space, is in Brooklyn, with Manhattan next at 30 percent of the space.

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