Search
 

Mixed-Use Development in Williamsburg, Brooklyn Closes on $32M Loan

Madison Realty Capital provided construction financing for a 421a-eligible development site owned by Mendel Roth.

744 Bedford Ave. 744 Bedford Ave., Williamsburg, Brooklyn

NEW YORK CITY—Madison Realty Capital closed a $31.49 million first mortgage loan collateralized by a mixed-use development at 744 Bedford Ave. in Williamsburg, Brooklyn. All of the proceeds of the loan will be used to complete construction of a 134,742 square-foot building. Industry sources confirm that Mendel Roth of Bedford Roth Holding LLC is the property owner.

The project plans include 86 one-bedroom units averaging 565 square feet, and two approximately 870 square-foot two-bedroom units, 18,393 square feet of retail space and 76 parking spaces. All of the residential units will have outdoor space including terraces or balconies ranging from 30 to 100 square feet.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 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

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.

More from this author

Recommended Stories

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.