NYC Housing Development Corporation Provides $69.3M Construction Loan For Bushwick Development Site

The development site located at 223 Linden Street in Bushwick was recently involved in a loan transaction. The property spans 100,053 square feet and consists of 153 units. The loan, provided by the NYC Housing Development Corporation, was valued at $69,300,000 and is specifically for construction purposes. The borrower, Blue Sea Development Company, obtained the loan to finance the development of the site.

Summary of Transaction Details

• Property Type: Development Site
• Loan Amount: $69,300,000
• Address: 223 Linden Street
• Market: Bushwick
• Square Footage: 100,053
• Number of Units: 153

The lender, NYC Housing Development Corporation, played a key role in providing the loan for the development of the property. The borrower, Blue Sea Development Company, will utilize the funds to construct on the site, bringing the development plans to fruition.