Related & Santander Provide $135M Construction Loan For 328-Unit Prospect Lefferts Garden Development Site

The Development Site located at 975 Nostrand Avenue in Prospect Lefferts Garden has undergone a significant transaction involving a loan for the construction of the property. The asset comprises 328 units and the loan amount secured for this development is $135,000,000.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $135,000,000
• Address: 975 Nostrand Avenue
• Market: Prospect Lefferts Garden
• Lender: Related & Santander
• Landlord: Hudson Companies
• Brokers: Gideon Gil, Zachary Kraft & Sebastian Sanchez - Cushman & Wakefield

The loan for the construction of the property was facilitated by Related and Santander. The landlord overseeing this development is Hudson Companies, with Cushman & Wakefield's team of brokers, Gideon Gil, Zachary Kraft, and Sebastian Sanchez, playing a crucial role in representing the parties involved in this transaction.