A $140 million construction loan has been issued for a new seven-story residential development located at 2366 Bedford Avenue in Flatbush, Brooklyn. The loan was issued by SCALE Lending to Clipper Equity, the project’s developer. It marks a continuation of SCALE Lending’s aggressive financing strategy and pushes its 2024 transaction volume to over $400 million in loans provided.
BEB Capital and Totem, in partnership with Ofer Cohen and SK Development, have secured financing for a new residential development at 737 4th Avenue in Sunset Park, Brooklyn. The structure will yield 187 residential units with 46 designated as permanently affordable homes with a target average price of 48 percent of the area median income, as well as a ground-level retail space. Walker & Dunlop facilitated the $143 million loan for the 193,000-square-foot, 14-story project.
Renovation work is complete on the Whitehall Building, a 31-story mixed-use building at 17 Battery Place in Manhattan‘s Financial District. Designed by GACE and Thornton Tomasetti and developed by the Moinian Group, the two-year project focused on the restoration of the building’s Renaissance Revival exterior to the historical conditions of its completion in 1910. Yates Exterior Restoration Services was the contractor for the property, which is located at the intersection of Battery Place and West Street.
The Summit, a four-story, 750,000-square-foot corporate campus located at 100 Summit Lake Drive in Valhalla, Westchester County, recently announced the expansion of its tenant roster with the signing of three new leases totaling 13,313 square feet.
The New York City Landmark Preservation Commission is reviewing a proposal for façade renovations and and alterations to 83 and 85 Chambers Street, adjoining five-story residential buildings in Tribeca, Manhattan. Both buildings feature eight units and extend from Chambers Street to Reade Street, on the other side of the block. The proposal was assembled by GreenbergFarrow for United American Land LLC, and was presented to the LPC on March 5, 2024.
