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.
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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.
