1139 Manhattan Avenue refinances at $33M

Overview

A Greenpoint commercial complex -- 1139-1145 Manhattan Avenue and 93-99 Commercial Street, part of a nine-building/site, $35.5 million portfolio Glacier Equities assembled in 2024, per Commercial Observer -- picked up new financing in August 2026. ACRIS records show a newly formed lending vehicle, Greenpoint 2026-01 Lender, LLC, taking an assignment of a prior $25 million loan from DB 360 Asset Holdings LLC and separately recording a new $33 million loan agreement and a $4.5 million mortgage, all the same day. The 2026 ACRIS filings don't name Glacier Equities directly, so current ownership isn't independently re-confirmed here.

The full 2024 portfolio -- 93-99 Commercial Street, 15 and 78 Box Street, and 1139-1145 Manhattan Avenue -- totaled 104,000 square feet. Commercial Observer describes 1139-1145 Manhattan Avenue specifically as existing mixed-use buildings, while 93-99 Commercial Street (22 regulated and market-rate apartments plus retail/office space) occupies the former Greenpoint Glass Works, an 1850s glass factory complex with 100 feet of Newtown Creek frontage; the Box Street lots are among the last undeveloped parcels on the Greenpoint waterfront. The seller, the Kennedy family's Sulcoit Capital, had owned 93-99 Commercial Street since 1977, when Martin Kennedy bought and renovated it four times before his death in 2019. Glacier Equities' original 2024 purchase was financed with a bridge loan from 360 Capital Funding and brokered by CBRE's Dan Kaplan; Glacier reportedly plans to reposition the assembled properties into mixed-use residential/retail use, a direction this 2026 refinancing is consistent with but doesn't itself confirm.

A substantial refinancing on part of a 2024 nine-site Greenpoint portfolio assembled from a single family's half-century ownership -- now tied to a purpose-formed lending vehicle rather than a named bank, read as restructuring on an existing property, not new ownership or construction.

Parties Involved 3 recorded

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Property & Project