David Bollag & James Darling Of Meridian Capital Group Secures $12.55M Construction Loan In Gowanus Brooklyn

The asset involved in this transaction is a development site located in Gowanus, Brooklyn. The loan amount secured for this property is $12,550,000, classified as a construction loan with a 5-year term, 70% loan-to-cost (LTC), and SOFR 300.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $12,550,000
• Loan Type: Construction
• Loan Term: 5 Year Term
• Loan-to-Cost: 70%
• SOFR: 300
• Address: Gowanus, Brooklyn
• Market: Brooklyn

The deal was facilitated by brokers David Bollag and James Darling from Meridian Capital Group, representing the financing efforts associated with this development project.