Law360 (June 16, 2025, 6:54 PM EDT) -- KRE Group and Brookfield Properties secured a $125 million refinancing for a Manhattan multifamily property from Equitable Financial Life Insurance Co. of America in a deal guided by Woods Oviatt Gilman LLP.
Two affiliates of KRE Group and one Brookfield Properties affiliate secured the financing for 111 Worth St. The deal consists of a refinancing of the existing $83.7 million outstanding balance and a $41.3 million gap mortgage, per records filed with the county Friday.
The deal refinances a $113.9 million mortgage assigned to Fannie Mae in 2003 after first being issued by the New York State Housing Finance Agency in 2001, per county property records. The property spans 19 stories and houses 331 residential units, according to city tax records. Representatives for KRE Group, Brookfield Properties and Equitable did not respond to requests for comment Monday.
The filing was prepared by Benjamin Keller of Woods Oviatt Gilman LLP.
Originally published in Law360 on June 16, 2025. See here.
By Grace Dixon
Reprinted with permission
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