A development site located at 310 North 7th Street in Williamsburg, Brooklyn has recently undergone a loan transaction. The property, spanning a buildable square footage (BSF) of 13,788, has secured a construction loan.

Summary of transaction details

• Property Type: Development Site
• Loan Amount: $12,400,000
• Loan Type: Construction
• Loan Terms: 24 months + extension options; LTC 77%

The lender for this project is BridgeCity Capital, represented by Louis Lebovits, Moishe Loketch, Pinny Loketch, and Allan Lebovits. They actively finance mixed-use, residential, industrial, and construction projects in the Tri-State Area, South Florida, and various other states. For loan inquiries, interested parties can visit their website at www.bridgecityfunding.com or contact them via email at [email protected].