Brief
New Empire Receives $75M in Construction Financing for Brooklyn Multifamily Project
NEW YORK CITY — Locally based developer New Empire has received $75 million in construction financing for a new multifamily project that will be located in Brooklyn’s Flatbush neighborhood. The financ
Summary
NEW YORK CITY — Locally based developer New Empire has received $75 million in construction financing for a new multifamily project that will be located in Brooklyn’s Flatbush neighborhood.
The financing consists of a $58 million senior loan from Madison Realty Capital and a $17 million mezzanine loan from Naftali Credit Partners.
Designed by Morali Architects with interiors by Paris Forino, the project at 757 Flatbush Ave. will be a nine-story building with 131 residences and 3,348 square feet
Source
- REBusinessOnlinerebusinessonline.com
