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Bruman Realty lands Refi for 871 Bushwick Avenue

871 Bushwick Avenue (Credit: TRD)

Joseph Brunner’s Bruman Realty has secured a $130 million refinancing package from Starwood Mortgage Capital for 871 Bushwick Avenue (AKA 889 Bushwick Avenue + 340 Evergreen Avenue), according to TRD. The two rental buildings span a total of 218,700 square feet, and contain 232 units.

  • Financing details: The new loan replaces $110 million in previous debt provided by Benefit Street Partners Realty Trust. It also includes a $20 million gap mortgage.
  • Flashback: The owners paid $15 million for the development site in 2014.
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