BridgeCity Capital Provides $9 Million Construction Loan For Development Site At In Williamsburg, Brooklyn

A development site located at in Williamsburg, Brooklyn, has recently secured a construction loan. The property spans approximately 4,000 square feet and has been earmarked for mixed-use development.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $9,000,000
• Date: 08/31/2023
• Market: Williamsburg, Brooklyn

The lender for this project is BridgeCity Capital, represented by Louis Lebovits, Moishe Loketch, and Pinny Loketch. BridgeCity Capital specializes in financing a range of projects, including mixed-use, residential, industrial, and construction developments. The loan provided for this development site is a construction loan, with terms set at 24 months and options for extension. The loan-to-cost (LTC) ratio stands at 75%, indicating substantial financing support for the project.

If you are interested in learning more about BridgeCity Capital's financing offerings or have inquiries about potential loan opportunities, visit their website at www.bridgecityfunding.com or reach out to [email protected].