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Red Apple Group lands Refi for 86 Fleet Place

Santander Bank provided the debt

86 Fleet Place (Credit: Red Apple Group)

John Catsimatidis’ Red Apple Group has secured a $200 million loan from Santander Bank to refinance 86 Fleet Place. The Downtown Brooklyn rental tower spans 395,000 square feet, and contains 440 units, plus a ground-floor retail component.

Financing details: The new loan replaces and consolidates $170 million in previous debt provided by Bank of America in 2015, according to CO.

Worth Noting: The residential tower was completed in 2017, and is the company’s final building at their project along Myrtle Avenue. The other three buildings have addresses of 218 Myrtle Avenue, 81 Fleet Place, and 180 Myrtle Avenue.

Flashback: Catsimatidis bought the three-block development site from Long Island University in 1982.

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