NEW YORK CITY—CW Realty has closed on a $78-million construction loan for the development of a 140,000 square-foot, mixed-use apartment and retail building located at 187 Kent Ave., in Williamsburg, Brooklyn.
The senior loan was originated by Prophet Capital Asset Management and Bank of Internet USA.
The seven-story property will include 35,000 square feet of ground-floor and basement retail space, 96 luxury apartments and 170 parking spaces. The building will feature an on-site fitness facility and outdoor terraces. The retail space will be constructed with 17-foot ceilings and grand arch windows and will have street frontage on Metropolitan Avenue, Kent Avenue and North 3rd Street. Designed by architect Diego Aguilera, construction is expected to be completed in the spring of 2019.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
