Lam Group lands $68M loan for Sheraton in Downtown Brooklyn

The Lam Group secured a $68 million refinancing of its Sheraton hotel in Downtown Brooklyn, property records show. The loan package from U.S. Bank includes a gap mortgage of $4.8 million, and it takes over a previous loan from US Bank, according to Lam Group CEO John Lam. The bank had loaned it $70 million for the hotel in 2013. The Sheraton at 228 Duffield Street stands 25 stories tall and has 321 rooms. The […]

Source: Real Estate

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