Refinancing · Williamsburg
68 Richardson Street refinances at $16.1M
The 24-unit rental building, built in 1920, was last sold in 2022 by The Kalikow Group to FREO Group/Freo Management; ORIX RE Holdings is the new lender.
- Amount
- $16.1M
- Type
- Refinancing
- Date
- Jul. 2026
68 Richardson Street, Brooklyn, NY
Recorded in NYC property records.
- Borrower
- 68 Richardson Owner LLC
- Lender
- ORIX RE Holdings, LLC
- The building last sold in 2022 for $21.5M, when The Kalikow Group sold it to FREO Group/Freo Management.
- New debt comes from a different lender (ORIX RE Holdings) than the 2022 purchase loan (Hudson Valley Bank).
- A straightforward recapitalization on an established 1920-built, 24-unit rental -- not a new sale or new construction.
Overview
This existing 24-unit, 1920-built rental building at 68 Richardson Street was refinanced with just over $17 million in new institutional debt in July 2026 -- a $16.13 million loan agreement and a separate $930,000 mortgage, both from ORIX RE Holdings, LLC. The building last traded in July 2022, when The Kalikow Group sold it to FREO Group/Freo Management (through partners KEPWRS INV and RiverOak NYC I, LLC) for $21.5 million, financed at the time by a $13.5 million Hudson Valley Bank loan to Kalikow's own ownership entity, per Kalikow's own project page, PincusCo, and The Real Deal. This refinancing is new debt from a different lender on that same, already-sold building -- a straightforward recapitalization, not a further change of ownership or new construction.
A straightforward refinancing on an established Williamsburg rental building, four years after its last sale -- useful context for the neighborhood's capital-markets activity, though not itself a development story.
Parties Involved 2 recorded
Basis
Named as party1 on both the $16.13M loan agreement (ACRIS doc 2026071300041005) and the $930,000 mortgage (doc -004).
Basis
Named as party2 on both the $16.13M loan agreement and the $930,000 mortgage.
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.
Property & Project
Sources & Recordsverification, citations & data notes
- ACRIS Document Detail -- loan agreement, $16,130,000 — NYC ACRIS
- ACRIS Document Detail -- mortgage, $930,000 — NYC ACRIS
- 68 Richardson Street — The Kalikow Group
- I-sales Recap: Kahen Buys Three UES Buildings For $34M — The Real Deal