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Madison Realty Finances Williamsburg Umbrella Factory Buy

NEW YORK CITY—Madison Realty Capital reports it has provided the New York City-based development firm $53.5 million in first mortgage loan financing for the purchase and construction of a 90,000-square-foot project on the development site at 722 Metropolitan Ave.

By John Jordan | johnjordan | Updated on May 19, 2017

Josh Zegen, managing principal of Madison Realty Capital Josh Zegen, managing principal of Madison Realty Capital

NEW YORK CITY—A former umbrella factory in Williamsburg, Brooklyn has been acquired by SL Development, which will build a mixed-use luxury condominium project at the site.

Madison Realty Capital reports it has provided the New York City-based development firm $53.5 million in first mortgage loan financing for the purchase and construction of a 90,000-square-foot project on the development site at 722 Metropolitan Ave. The property is located between Metropolitan Avenue and Graham Avenue in Williamsburg.

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