Scale’s $48M loan kicks off first phase of New Rochelle project
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.
Bruman secures $66M loan to build 165-unit Astoria apartment tower
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.
Scale Lending Supplies $40M Loan for New Clinton Hill Apartment Building
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.
Bronx multifamily development gets $63M loan
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 funds $55M construction loan for LIC condo
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.
Hakimian, Certes land $59M loan for East Harlem multifamily project
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.
SCALE Lending Provides $120M Construction Loan for Jersey City Apartment Complex
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 originates $38M inventory loan for unsold UWS condos
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.
Slate Property’s Scale Lending Strikes First Deal For a Brooklyn Resi Project
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.