Naftali Credit Partners, Madison Realty Capital Provide $75M Loan for Brooklyn Condo Project

• Naftali Credit Partners and Madison Realty Capital closed a $75 million construction loan for a new condominium project at 757 Flatbush Avenue.
• The nine-story development will deliver 131 condominium units and approximately 3,348 square feet of ground-floor commercial space.
• New Empire is developing the project, with architecture by Morali Architects and interiors designed by Paris Forino.

What the Financing Includes

A major residential development in Brooklyn's Flatbush neighborhood has secured $75 million in construction financing as work moves forward on a new condominium project. Naftali Credit Partners and Madison Realty Capital provided the financing package for 757 Flatbush Avenue, a planned nine-story residential building. The capital stack includes a $58 million senior loan from Madison Realty Capital and a $17 million mezzanine loan from Naftali Credit Partners. The financing will be used to refinance existing land debt and fund the project's remaining construction and development costs.

What Is Planned at 757 Flatbush Avenue

Located at 757 Flatbush Avenue in Brooklyn, the development will bring 131 condominium residences to one of the borough's fastest-growing residential corridors. The project will feature a mix of studio, one-, two-, and three-bedroom homes designed to appeal to a broad range of buyers. In addition to the residential component, plans call for approximately 3,348 square feet of ground-floor commercial space. Architecture is being led by Morali Architects, while Paris Forino will oversee interior design.

What Amenities Residents Can Expect

The development is being designed as a modern condominium community with a range of resident-focused amenities.

Plans include accessory parking, resident storage, and a collection of amenity spaces intended to enhance the living experience. While the full amenity package has not yet been disclosed, developers are positioning the project as a high-quality residential offering within the Flatbush market.

What Makes Flatbush Attractive for Development

The site benefits from strong connectivity and access to neighborhood amenities. Located near Prospect Park, the property offers convenient access to the Q subway line as well as connections to the B, 2, and 5 trains. Residents will also be close to a variety of retail, dining, educational, and healthcare destinations throughout central Brooklyn. Developers continue to target Flatbush as demand for newly built condominium product remains strong across Brooklyn.

What This Means for Brooklyn's Condo Market

The financing reflects continued lender confidence in well-located residential developments despite broader market challenges. For New Empire, the project represents another major Brooklyn investment following previous collaborations with Naftali Credit Partners. For lenders, the transaction highlights ongoing opportunities in neighborhoods where population growth, transit access, and housing demand continue to support new development activity. With financing now in place, 757 Flatbush Avenue moves one step closer to delivering new condominium inventory to a market that remains undersupplied relative to demand.