Equitas Capital Group Provides $21.5M Construction Loan For Development Site In Prospect Lefferts Gardens, Brooklyn

A construction loan in the amount of $21,500,000 has been secured for a development site located at 408 Lefferts Avenue in Prospect Lefferts Gardens, Brooklyn. The property has a buildable square footage (BSF) of 68,060, making it suitable for future development.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $21,500,000
• Address: 408 Lefferts Avenue, Prospect Lefferts Gardens, Brooklyn
• Market: Prospect Lefferts Gardens, Brooklyn
• Loan Type: Construction
• Loan Terms: Rate - Prime Based, Loan Term - 24 Months, LTC - 70%

The loan was facilitated by Alex Leykind and Michael Tsyngauz of Equitas Capital Group. As representatives of the borrowers, Leykind and Tsyngauz played a crucial role in securing the loan for the development site.

Note from lender: At Equitas Capital Group, we strive for excellence in providing top-notch service, unbeatable terms, and the lowest rates. For more information, you can contact us at [email protected] or visit our website at www.equitascapitalgroup.com.