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Silverstein buys debt on 1 Clinton Street

Rendering of 1 Clinton Street (Credit: Marvel Architects)

Silverstein Capital Partners has acquired a senior construction loan on Hudson Companies’ 1 Clinton Street in Brooklyn Heights from Starwood Property Trust. Goldman Sachs is also a capital partner in the deal, CO noted.

  • Worth Noting: The $200 million A-note has a current outstanding balance of $172 million, and Starwood had projected that it would substantially be repaid in late summer. An $80 million subordinate B-note held by Related Fund Management is not involved in the deal. 
  • The development: The 36-story, mixed-use condo tower will span 295,000 SF, and include 134 residential units, a new public library, ground-floor retail space, and a 9,000-square-foot STEM research center.

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