Refinancing · Crown Heights
1 Sullivan Place refinances at $21M
The 12-story, 52-unit Crown Heights rental building, designed by RKTB Architects and completed in 2023, has upper floors that cantilever roughly 30 feet over a neighboring building toward Prospect Park and the Brooklyn Botanic Garden.
- Amount
- $21M
- Type
- Refinancing
- Date
- Jul. 2026
1 Sullivan Place, Brooklyn, NY
Recorded in NYC property records.
- Borrower
- 1 Sullivan Residences LLC
- Lender
- Truist Bank
- Lender
- Goldman Sachs Bank USA
- A refinancing on an already-completed (2023), 52-unit building -- not a sign of new construction.
- The building is known for cantilevered upper floors extending roughly 30 feet over a neighboring building for Prospect Park/Botanic Garden views.
- Sits on a corridor where courts struck down taller nearby rezonings (40 Crown Street, 960 Franklin Avenue) specifically over shadow impacts on the Botanic Garden.
Overview
In July 2026, 1 Sullivan Residences LLC closed a $21 million refinancing on One Sullivan Place, the 12-story, 52-unit rental building at 1 Sullivan Place on the Crown Heights/Prospect Lefferts Gardens border, with Truist Bank and Goldman Sachs Bank USA as lenders. The mortgage was recorded with New York City's Office of the City Register.
Designed by RKTB Architects and completed in 2023, the building is best known for its cantilevered upper floors, which extend roughly 30 feet over a neighboring building to capture views of Prospect Park and the Brooklyn Botanic Garden directly across the street. Its units -- a mix of market-rate, affordable, and senior housing -- range from one to three bedrooms.
This is a refinancing on an already-completed building, not a sign of new construction -- routine capital activity for a property that has been open since 2023. It's worth tracking because the lenders, Truist Bank and Goldman Sachs Bank USA, are both real, identifiable institutions, and because the site sits on a stretch of blocks that became a flashpoint in Crown Heights: courts struck down taller rezonings nearby at 40 Crown Street and 960 Franklin Avenue specifically over shadow impacts on the Botanic Garden, which makes this shorter, already-built project's own financing activity a useful comparison point for how that same corridor is actually developing.
Parties Involved 3 recorded
Basis
Named as party1 on the ACRIS MTGE document.
Basis
Named as a party2 lender on the ACRIS MTGE document.
Basis
Named as a party2 lender on the ACRIS MTGE document.
Counts and combined values are computed from Hush Street’s own published Deal records only. “Combined” is the total value of the transactions a party appears on, not capital deployed by that party, and two parties on the same transaction each reflect its full amount. Not a career or market total.
Marks shown are Hush Street editorial monograms, generated from each party’s recorded name — not official company logos.