Hudson Companies Settles $210 Million Condo Loan On BK Heights Tower

Brooklyn Heights’ tallest condo tower just settled a $210 million condo inventory loan.

Hudson Companies got the financing for 1 Clinton Street from the newly launched lending arm of Michael Kirchmann and Alan Rudikoff’s GDSNY development company.

The new debt refinances a $280 million construction loan provided by Starwood Property Trust (later sold to Silverstein Capital Partners) and Related Fund Management for the project in 2017 and is collateralized by the remaining unsold units at the property.

Hudson Companies’ One Clinton is a 134-unit, 38-story condo tower rising from the former Brooklyn Heights Library site. The project has a predicted sellout of roughly $475 million.

Earlier this year, a buyer inked a contract to buy a three-bedroom, two-and-a-half-bathroom apartment in the building with an asking price of $3.8 million.

Leave a Comment

Your email address will not be published. Required fields are marked *