The Gotham Organization and the Actors Fund have closed on a second round of financing for the Ashland at 250 Ashland Place. Located in the Brooklyn Cultural District, the $217.5 million instrument will both replace and consolidate a new $42.5 million loan with previous debt on the property. Both rounds of funding were provided by the city’s Housing Development Corporation, which assigned the loans to Wells Fargo. The 3-story, 586 unit residential building was completed in 2016 and currently boasts rents on units of between $2,490 and $5,225 per month.
The Gotham Organization and the Actors Fund have closed on a second round of financing for the Ashland at 250 Ashland Place. Located in the Brooklyn Cultural District, the $217.5 million instrument will both replace and consolidate a new $42.5 million loan with previous debt on the property. Both rounds of funding were provided by the city’s Housing Development Corporation, which assigned the loans to Wells Fargo. The 3-story, 586 unit residential building was completed in 2016 and currently boasts rents on units of between $2,490 and $5,225 per month.
