Naftali Group Secures $525 Million Financing for Massive Brooklyn Waterfront Expansion
Naftali Group lands $525M from JP Morgan and GoldenTree to fund Phase Two of Williamsburg Wharf, a massive Brooklyn waterfront project set for 2028 completion.
By: AXL Media
Published: Mar 14, 2026, 10:33 AM EDT
Source: https://www.multihousingnews.com/
Capital Structure and Strategic Debt Refinancing
The $525 million financing package is structured as floating rate, interest only debt. This capital will be utilized for multiple strategic purposes: refinancing an existing acquisition loan, covering necessary closing costs, and directly bankrolling the construction of Phase Two. This financial milestone follows a successful first phase that was supported by Bank OZK through various loans totaling over $600 million since 2022. The transition to JP Morgan and GoldenTree for this stage suggests a broadening of institutional interest in the Williamsburg Wharf master plan as the project moves toward its next critical milestone.
Architectural Scale and Phase Two Development
Phase Two will introduce two prominent high rises to the East River skyline, reaching heights of 415 and 460 feet at 80 Wharf Way. These structures will stand alongside the recently completed towers from Phase One, which successfully delivered more than 500 multifamily units and 89 condos. At full build out, the entire Williamsburg Wharf community will represent a massive 1.2 million square foot ecosystem, integrating residential, retail, and cultural spaces across five distinct buildings. The scale of these towers positions them among the tallest and most significant residential developments in Brooklyn’s current pipeline.
Waterfront Zoning and Strategic Location
The project site is situated within a high intensity waterfront zoning area, roughly one mile north of the Williamsburg Bridge. This location offers prime connectivity, sitting just four miles from Lower Manhattan, making it an ideal anchor for high net worth professionals seeking luxury amenities outside of the Manhattan core. The proximity to the East River provides unblocked views and maritime access, factors that have historically driven the highest price per square foot valuations in the Brooklyn market.