News

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.

SCALE Lending announced that it has closed on a $55 million construction loan to complete the development of The Nova in Long Island City.

Being developed by SB Development, designed by Fogarty Finger and built by 1 Oak Construction, The Nova is set to be completed in June 2022.

A joint venture between the Hakimian Organization and Certes Partners is moving forward with an apartment project in East Harlem.

Scale Lending, the financing arm of Slate Property Group, provided Hakimian, Certes Partners and Red Pine Capital Partners with a $59 million construction loan for the project at 212 East 125th Street, the lender told The Real Deal.

Namdar Group has scored a $120 million construction loan to fund a multifamily project in Jersey City, N.J., Commercial Observer has learned.

SCALE Lending, the financing arm of Slate Property Group, provided the debt in a transaction negotiated by Matthew Hirsch and Bryan Grover of Greystone Capital Advisors.

Scale Lending recently provided a $38 million inventory loan for more than two dozen unsold units at a luxury condominium on the Upper West Side. The borrower is Simon Baron Development Group, who, along with Quadrum Global, developed the Chamberlain, a 38-unit condo building at 269 West 87th Street.

Scale Lending — a partnership between Slate Property Group and the Carlyle Group — has closed on its first deal in New York. The platform provided a $35 million construction loan for 834 Pacific Street in Brooklyn, according to the company. Happy Living Development is planning to convert a Prospect Heights rectory into a residential rental project at the site.

JMH Development and Mettle Property Group have scored $56 million in financing to develop a 143-unit multifamily building in Long Island City, Queens, Commercial Observer has learned.