Cross River Bank Provides $31.5M Construction Loan For Development Site On Lorimer Street In Williamsburg, Brooklyn

A development site located at 271 Lorimer Street in Williamsburg, Brooklyn has been involved in a recent loan transaction. The property, owned by Joyland Group and represented by Judy Minster, has secured a construction loan from Cross River Bank for an amount of $31,500,000. The loan is intended to support the development of the site.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $31,500,000
• Date: 03/30/2023
• Address: 271 Lorimer Street
• Market: Williamsburg, Brooklyn
• Lender: Cross River Bank
• Landlord: Joyland Group - Judy Minster
• Loan Type: Construction

Joyland Group, represented by Judy Minster, is the landlord of the development site located at 271 Lorimer Street. The loan for the construction of the site has been provided by Cross River Bank. This transaction showcases the collaboration between the property owner and the lending institution in bringing the development project to fruition.