Lendlease secures $450M Ares loan for 834-unit Greenpoint waterfront multifamily tower

Lendlease and its joint venture partner Aware Super secured a $450 million loan from Ares for The Riverie (1 Java Street), a two-tower, 834-unit luxury multifamily development on the Greenpoint waterfront in Brooklyn. The project is one of the country's largest geothermal-powered residential buildings, includes approximately 14,000 square feet of retail and 18,000 square feet of waterfront park, and benefits from the 421a tax abatement. The site was purchased in 2020 for $110.8 million, and the first residents began moving in earlier this year.