The Bushwick skyline is reaching new heights of financial stability as JLL Capital Markets announced today the successful $58 million refinancing of 1333 Broadway. The newly constructed, 20-story mixed-use multifamily asset stands as a testament to the enduring demand for high-quality, transit-oriented housing in one of Brooklyn’s most vibrant neighborhoods.
JLL represented the borrower—a joint venture between Ekstein Development Group and Standard Real Estate Investments—in securing the loan from Barings, a global leader in alternative investment management.
Completed just last month in April 2026, the 97,526-square-foot property is a cornerstone of modern urban design. 1333 Broadway features:
- 106 Residential Units: A mix of 74 market-rate and 32 affordable apartments.
- 29,000 Square Feet of Commercial Space: Including high-visibility retail frontage and dedicated studio space.
- Tax Benefits: The asset is fortified by a 35-year 421-a tax abatement and a 25-year ICAP tax abatement for its commercial component.
Situated in the heart of Bushwick, the property is just one block from the Gates Avenue subway station, offering residents immediate access to the J and Z lines. This connectivity links the neighborhood directly to major employment hubs across both Manhattan and Brooklyn, making it a primary target for the area’s growing population of young professionals.
“Lenders continue to demonstrate conviction for well-located, newly delivered multifamily assets with durable cash flow fundamentals,” Peter Rotchford, senior managing director at JLL said. “1333 Broadway’s proximity to transit, strong Bushwick market dynamics, and meaningful tax benefits made this an attractive financing opportunity.”
Despite broader economic shifts, the Brooklyn multifamily market remains a “high-conviction” sector for institutional lenders. JLL reports that limited vacancy and sustained rental demand—particularly for newly constructed, transit-oriented assets—continue to drive strong outcomes for ownership groups.
“We continue to see attractive opportunities in high-quality multifamily assets in markets with strong underlying fundamentals,” Ryan Naumes, managing director at Barings said. “We are pleased to partner with the experienced local management team to support 1333 Broadway’s long-term performance.”
The JLL Capital Markets team leading the transaction included Peter Rotchford, Rob Hinckley, and Robert Tonnessen. As Bushwick continues to evolve into a premier destination for residents and retailers alike, the refinancing of 1333 Broadway underscores the financial community’s belief in the neighborhood’s long-term trajectory.
