King Street Capital Management, a leading global investment management firm, GDS Brightstar, the real estate lending platform of New York-based GDSNY, and MLN Partners, a private real estate investment firm, have today announced they have provided a $210 million condo inventory loan to the Hudson Companies’ project, One Clinton in Brooklyn Heights.
One Clinton is a collection of 134 modern homes inspired by the historic and graceful surroundings of Brooklyn Heights. Located at Cadman Plaza Park and Clinton Street with a hand-crafted limestone facade and meticulously designed interiors, One Clinton is an iconic addition to one of the city’s most treasured neighborhoods. The 38-story building’s location provides ready access to multiple subway lines placing you within immediate reach of all areas of Manhattan.
Amenities at One Clinton include a full-time staff including a resident manager and various spaces for experiencing the outdoor areas and a variety of wellness activities. A 2,000 square foot fitness center includes a sauna and hot tub, changing rooms, yoga room, Peloton bikes, strength training and cardio equipment. The 3,500 square foot terrace also includes an area of grilling, lounging and entertaining. The kids’ activity center has its own adjacent outdoor play area.
The loan on the development was previously provided by Goldman Sachs, Related Fund Management and Silverstein Capital Partners. The project’s capital stack also includes EB-5 financing.
GDS Brightstar, the real state lending platform of New York-based property firm GDSNY, provides financing for office, residential and mixed-use properties. We will provide senior loans, bridge loans, subordinate loans, and rescue capital to borrowers on shovel-ready ground-up construction, heavy value-add repositioning, land, and inventory loans. Leveraging over 30 years of real estate experience in New York, we understand the complexities of development, efficiently navigating the capital stack to better position investments for long-term growth. Our history as borrowers and builders makes us a trustworthy source for developers, able to quickly structure deals that exceed the client’s needs, and provide efficient capital to sponsors.