Carlton Fields, Kasowitz Steer $330M Brooklyn Loan

Law360 (April 26, 2019, 5:23 PM EDT) -- Carlton Fields represented Teachers Insurance and Annuity Association of America in connection with its $330 million loan to Kasowitz-counseled Steiner NYC for a new rental tower in downtown Brooklyn, according to records made public in New York on Friday.

The loan for The Hub at 333 Schermerhorn St. includes $30 million in new financing for the property, and the remainder is assumption and refinance of preexisting debt.

The property is just south of the Nevins Street subway station where the 2, 3, 4 and 5 trains stop, and Fort Greene Park is nearby. Steiner NYC LLC completed the 55-story, 750-unit tower...

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