Brooklyn


Existing Sears facility, via Google Maps

Construction Loan Secured For 2366 Bedford Avenue in Flatbush, Brooklyn

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.

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Rendering of 737 4th Avenue, courtesy of Marino PR

Construction Financing Secured For 737 4th Avenue In Sunset Park, Brooklyn

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.

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Permits Filed for 157 Leonard Street in East Williamsburg, Brooklyn

Permits have been filed for a four-story residential building at 157 Leonard Street in East Williamsburg, Brooklyn. Located between Stagg Street and Scholes Street, the lot is closest to the Broadway subway station, serviced by the G train and the Montrose Avenue station, serviced by the L train. Hershy Silberstein of Blue Shone Builders Inc. is listed as the owner behind the applications.

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Foundations Underway at 1034-1042 Atlantic Avenue in Crown Heights, Brooklyn

Foundation work is moving along at 1034-1042 Atlantic Avenue, the site of a 17-story residential building in Crown Heights, Brooklyn. Designed by Archimaera Architecture and developed by Elie Pariente of EMP Capital Group, the 175-foot-tall structure will span 172,789 square feet and yield 193 rental units with an average scope of 828 square feet, as well as 12,980 square feet of commercial space, a cellar level, a 62-foot-long rear yard, 20 enclosed parking spaces, and one loading berth. Countrywide Builders is the general contractor for the property, which is located on an interior lot between Atlantic Avenue and Pacific Street and Classon and Grand Avenues.

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