Scale Lends $150M to Finish Bronx Multifamily Property
Ben Beitel’s Beitel Group, a New York based development firm, has secured $150 million in construction financing to build a 13-story, 450-unit multifamily property in the Mott Haven neighborhood of The Bronx.
Slate Property Group’s debt financing business SCALE Lending provided the financing for the 289,000-square-foot asset that is currently in mid-construction. Landstone Capital Group’s Leah Paskus arranged the loan, while Prestige Construction has been tapped to serve as general contractor for the duration of the project.