Dwight Mortgage Trust (“DMT”), the affiliate REIT of Dwight Capital, provided $41.2MM in bridge financing for Amnia, a newly constructed, luxury high-rise apartment building in Downtown Brooklyn, NY. Completed in November 2023, the 13-story property consists of 73 units, offering a range of layouts from studios to three-bedrooms. Its amenities feature a fitness center, game room, courtyard with a dog run, and a rooftop lounge with Manhattan skyline views. Amnia is conveniently situated at the crossroads between three of Brooklyn’s trendiest neighborhoods in Brooklyn Heights, Dumbo, and Downtown Brooklyn, and steps away from dozens of restaurants and shops.
The apartment community also features 22 affordable units and will benefit from a long-term tax abatement in accordance with the 421(a) Affordable Housing New York Program. Proceeds from the loan were used to refinance existing construction debt and provide additional capital to the borrower, Bruklyn Builders Inc. Pinchas Vogel at Landstone Capital Group brokered this transaction.