Scott Rechler Of RXR Realty Secures $158 Million Construction Loan From Charles Emond Of Otera Capital For Development Site In Brooklyn

The asset involved in this transaction is a development site located at 91 Dekalb Avenue in the Fort Greene area of Brooklyn. This residential project encompasses a total square footage of 288,849 and is set to contain 275 units.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $158,000,000
• Lender: Charles Emond - Otera Capital
• Landlord: Scott Rechler - RXR Realty
• Loan Type: Construction

Charles Emond represents Otera Capital in the funding of this construction loan, while Scott Rechler represents RXR Realty as the landlord involved in the development project. This transaction secures the necessary financing to advance the residential project at the specified address, furthering RXR Realty's commitments in the market.