Kenneth Chan signs $60M refi with Centennial Bank for tv studio in Greenpoint

Kenneth Chan through the entity Java Landing, LLC as borrower signed a refi loan with lender Centennial Bank through the entity Centennial Bank valued at $60 million for the television studio building (J6) at 8 Java Street in Greenpoint, Brooklyn.
The deal closed on April 30, 2026 and was recorded on May 11, 2026. The prior lender was Series 2022-BNK44 and serviced by Trimont which held debt that had an original loan amount of $50 million. The property has 98,910 square feet of built space and 139,160 square feet of additional air rights for a total buildable of 238,140 square feet according to a PincusCo analysis of city data. The loan price per built square foot is $606 and the price per buildable square foot is $251 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 signatory for Kenneth Chan was Kenneth Chan. The signatory for Centennial Bank was Francillia Le Blanc .

The property

The specialty building in Greenpoint has 98,910 square feet of built space and 139,160 square feet of additional air rights for a total buildable of 238,140 square feet according to a PincusCo analysis of city data. The parcel has frontage of 200 feet and is 490 feet deep with a total lot size of 98,000 square feet. The lot is irregular. The zoning is R6 which allows for up to 2.43 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $16.3 million. Centennial Bank on April 30, 2026 bought a loan with an original principal of $50 million from Series 2022-BNK44 and Trimont signed by Eric H. Johnson , secured by 8 Java Street, when owned by Kenneth Chan .

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 neighborhood

In Greenpoint, The bulk, or 29 percent of the 23.8 million square feet of commercial built space are walkup buildings, with industrial buildings next occupying 26 percent of the space. In sales, Greenpoint has 2.7 times the average sales volume among other neighborhoods with $927 million in sales volume in the last two years and is the 4th highest in Brooklyn. For development, Greenpoint has 2 times the average amount of major developments relative to other neighborhoods and is the 4th highest in Brooklyn. It had 3.2 million square feet of commercial and multi-family construction under development in the last two years, which represents 13 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of one of the three commercial properties representing 98,910 square feet of the 98,910 square feet. The identified owner is Miriam Chan.
There are no active new building construction projects on this tax block.

The majority, or 100 percent of the 98,910 square feet of built space are specialty buildings, with development buildings next occupying 0 percent of the space.

The borrower

The PincusCo database currently indicates that Kenneth Chan owned at least six commercial properties with 54 residential units in New York City with 215,490 square feet and a PincusCo-determined asset value of $146.4 million. The portfolio has $67.5 million in debt, with top three lenders as Fortress Investment Group, CoreVest American Finance Lender, and Hirshmark Capital respectively. Within the portfolio, the bulk, or 54 percent of the 215,490 square feet of built space are industrial properties, with specialty properties next occupying 45 percent of the space.

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