GFI Capital signs $80M refi loan with Torchlight for hotel in Boerum Hill

GFI Capital Resources Group through the entity Bond Street Lessee LLC as borrower signed a refi loan with lender Torchlight Investors through the entity Df Viii Reit Holdings, LLC valued at $80 million for the hotel building (H2) at 61 Bond Street in Boerum Hill, Brooklyn.
The deal closed on December 30, 2025 and was recorded on January 6, 2026. The prior lender was Rialto Management Group which held debt that had an original loan amount of $59 million.The property has 165,534 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $483 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 owner bought the property on March 31, 2023, for $4.9 million. The signatory for GFI Capital Resources Group was Allen Gross. The signatory for Torchlight Investors was Abbey Kosakowski .

Prior sales, articles and revenue

The 165,534-square-foot property generated revenue of $36.5 million or $221 per square foot, according to the most recent income and expense figures.

The property

The hotel building in Boerum Hill has 165,534 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 35 feet and is 84 feet deep with a total lot size of 18,170 square feet. The lot is irregular. The zoning is C6-1 which allows for up to 6 times floor area ratio (FAR) for commercial and up to 3.44 times FAR for residential. The city-designated market value for the property in 2022 is $70.6 million.

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 received two DOB violations and $4,635 in OATH penalties 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 neighborhood

In Boerum Hill, The bulk, or 32 percent of the 9 million square feet of commercial built space are elevator buildings, with mixed-use buildings next occupying 16 percent of the space. In sales, Boerum Hill has 2.3 times the average sales volume among other neighborhoods with $695.6 million in sales volume in the last two years and is the 10th highest in Brooklyn. For development, Boerum Hill has 1.6 times the average amount of major developments relative to other neighborhoods and is the 5th highest in Brooklyn. It had 2.4 million square feet of commercial and multi-family construction under development in the last two years, which represents 26 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of eight of the 17 commercial properties representing 242,998 square feet of the 397,937 square feet. The largest owner is Gfi Capital Resources Group, followed by Nyc Department Of Education and then Icon Realty Management.
There are no active new building construction projects on this tax block.

The majority, or 69 percent of the 397,937 square feet of built space are hotel buildings, with walkup buildings next occupying 12 percent of the space.

The borrower

The PincusCo database currently indicates that Gfi Capital Resources Group owned at least five commercial properties with 38 residential units in New York City with 204,233 square feet and a city-determined market value of $72 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 81 percent of the 204,233 square feet of built space are hotel properties, with elevator properties next occupying 15 percent of the space. The bulk, or 81 percent of the built space, is in Brooklyn, with Manhattan next at 19 percent of the space.

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