Meadow Partners borrows $37M from Sterling National Bank for retail in Fort Greene

Meadow Partners through the entity One Flatbush Avenue Retail Owner LLC as borrower signed a loan agreement with lender Sterling National Bank valued at $37 million for 1 parcel, including the tax class commercial condo recorded in Acris (CC) at 1 Flatbush Avenue in Fort Greene. The deal closed on June 22, 2020 and was recorded on July 6, 2020.

Meadow and Slate Property Group sold the residential portion to a Goldman Sachs fund for $101 million. At the time, Meadown modified its loan from Mack. This newest filing adds a $6.26 million gap loan and $5.14 million in additional debt.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link