Cronheim secures $41M to refinance Brooklyn Aloft

Cronheim Hotel Capital (CHC) has secured a $41-million permanent loan on behalf of The Lam Group to refinance the existing debt on the 175-room Aloft New York Brooklyn.

“It’s remarkable to witness New York City’s resurgence post-COVID, especially considering the sluggish start in ’21 and ’22,” said Beau Williams, senior managing director, CHC. “Over the past 12-18 months, both business and leisure travel have seen a dramatic improvement. Taking advantage of this revitalization, we secured highly favorable terms with a great bank.”

The Aloft New York Brooklyn is located in downtown Brooklyn next to the MetroTech Business Improvement District and close to neighborhoods such as Fort Greene, Dumbo and Brooklyn Heights.