Two Trees Management signs $460M construction loan with M&T Bank for 280 Kent in Williamsburg

Two Trees Management through the entity Domino A Partners LLC as borrower signed a new construction loan with lender M&T Bank valued at $460 million for the development at 280 Kent Avenue in Williamsburg, Brooklyn.
The deal closed on March 5, 2026 and was recorded on March 26, 2026. The prior lender was M&T Bank which held debt that had an original loan amount of $89 million.
The signatory for Two Trees Management was David C. Walentas. The signatory for M&T Bank was Brianna Larson and Michael Lorch.

Because multiple properties have been transacted, some of the following sections will follow the property with the largest assessed value, which in this case, is the property on 270 Kent Street.

Prior sales, articles and revenue

Out of the five properties, one with a total of 40,523 square feet of built space generated revenue of $2.2 million per year.

The property

The specialty building in Williamsburg has 40,523 square feet of built space and 3,204,127 square feet of additional air rights for a total buildable of 3,244,834 square feet according to a PincusCo analysis of city data. The parcel has frontage of 1,312 feet and is 253 feet deep with a total lot size of 488,754 square feet. The lot is irregular. The zoning is R8 which allows for up to 6.02 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $9 million.

Transaction Participants

Scott L. Stern at Sheppard Mullin Richter & Hampton LLP participated in the transaction on behalf of .

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the properties for the past 24 months. In addition, according to city public data, the properties have received $3,185 in OATH penalties in the last year.

The neighborhood

In Williamsburg, The bulk, or 39 percent of the 50.4 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 25 percent of the space. In sales, Williamsburg has the 6th highest sale turnover among other neighborhoods in the city with $2 billion in sales volume in the last two years. For development, Williamsburg is the 2nd most active neighborhood among other neighborhoods. It had 42 million square feet of commercial and multi-family construction under development in the last two years, which represents 83 percent of the neighborhood’s built space.

The block

On the tax block of 270 Kent Street, PincusCo has identified the owners of two of the five commercial properties representing 543,577 square feet of the 543,577 square feet. The identified owner is Two Trees Management.

The majority, or 83 percent of the 543,577 square feet of built space are elevator buildings, with industrial buildings next occupying 17 percent of the space.

The borrower

The PincusCo database currently indicates that Two Trees Management owned at least 35 commercial properties with 1,229 residential units in New York City with 3,561,786 square feet and a city-determined market value of $830.5 million. (Market value is typically about 50% of actual value.) The portfolio has $2.2 billion in debt, with top three lenders as Wells Fargo, JPMorgan Chase, and M&T Bank respectively. Within the portfolio, the bulk, or 48 percent of the 3,561,786 square feet of built space are office properties, with elevator properties next occupying 36 percent of the space. The bulk, or 92 percent of the built space, is in Brooklyn, with Manhattan next at 8 percent of the space.

Direct link to Acris document. link