News

Goose Property Management has snagged $86.7 million of financing for the acquisition and construction of multifamily development at a former Key Food site in Williamsburg, Brooklyn, Commercial Observer has learned.

SCALE Lending provided the debt package for the 175,000-square-foot project at 575 Grand Street, which will include 186 new units with 30 percent set aside as affordable housing under the Affordable New York program. The financing was arranged by Henry Bodok of Galaxy Capital.

Hope Street Capital has secured a $55 million construction loan to build a new multifamily development in Crown Heights, Brooklyn, Commercial Observer has learned.

SCALE Lending supplied the debt package for Hope Street’s 158-unit project planned for 959 Sterling Place. Walker & Dunlop arranged the financing.

Rabsky Group is ready to roll at 240 Willoughby Street.

The secretive developer led by Simon Dushinsky secured a $72 million construction loan from SCALE, the lending arm of Slate Property Group.

Rabsky will use the money to construct a 30-story, 300-unit multifamily building near Fort Greene Park. It also plans to renovate an existing 21-story apartment project with 189 units.

SCALE Lending has completed a $68.5 million construction loan to finance the ground up construction of 210 Clarkson Street in Prospect Lefferts Gardens, Brooklyn.

The 165,000-gross-square-foot development will rise eight stories and contain 165 residential units and ground floor retail, which will be leased to a grocery store.

This loan marks the latest closing for SCALE Lending, a Slate Property Group affiliate, with more than $1.25 billion lent over the last 18 months.

Namdar Group, a family-owned developer based in New York City, has closed on a $96 million financing package to complete a new high-rise residential building in Jersey City. The property is located at 26 Van Reipen Avenue and will eventually support a 27-story building with 235 rental apartments and ground-floor retail.

The financing package was provided by SCALE Lending and arranged by Greystone. Those funds will support construction costs for 26 Van Reipen Avenue and the acquisition of 400,000 square feet of fully entitled land at 626 Newark Avenue. Both properties are located within Homestead Place, Namdar Group’s seven-building master development that will eventually comprise over 2.1 million square feet.

Capodagli Property Company has landed $71 million of construction financing to build a new multifamily property in northern New Jersey, Commercial Observer has learned.

Scale Lending, the financing arm of Slate Property Group, supplied the loan, which will finance ground-up construction of the 294-unit 110 Bergen Turnpike development in Little Ferry, N.J. The transaction was arranged by Greystone Capital Advisors’ Drew Fletcher, Bryan Grover, and Miryam Reinitz-Kops.

A block of New Rochelle is getting a new look, amid a larger transformation of the city’s downtown.

On a nondescript lot next to a humble, two-story brick building home to Green Heaven Cleaners, Allstate Ventures will erect a 14-story, 144-unit mixed-use building, financed by a newly issued $48 million construction loan from Slate Property Group affiliate Scale Lending.

SCALE Lending, a Slate Property Group affiliate, has closed on a $65.9 million construction loan to finance the ground up construction of a residential project at 26-25 4th Street in Astoria, Queens

Located within walking distance of Hallets Point and Astoria Park, 26-25 4th Street will be a new 165-unit residential building, 30 percent of which will be affordable housing. Bruman Realty, the development and investment firm led by Joseph Brunner and Abe Mandel, is the developer of the 19-story property. The financing was arranged by The SHB Group.

Developers Ranger Properties and KD Sagamore Capital have nabbed a $40 million construction loan to build a new multifamily property in Clinton Hill, Brooklyn, Commercial Observer has learned.

Scale Lending, the financing arm of Slate Property Group, provided the debt package for the ground-up construction project at 982-988 Fulton Street. The development will feature 113 apartments, with 30 percent of the units set aside for affordable housing.

Simon Kaufman’s YS Developers scored a $63 million construction loan for a 14-story, 151-unit residential development in the Bronx.

Scale Lending, the financing arm of Slate Property Group, provided the developer with the financing for the 135,000-square-foot project at 322 Grand Concourse in Mott Haven, the lender told The Real Deal.