Lisa Gomez Of L&M Development Partners Secures $217 Million Loan For Alafia Project In Brooklyn

The property asset involved in this transaction is a development site located at 888 Fountain Avenue in Brooklyn. This site encompasses a square footage of 297,883 and is part of the East New York market. The transaction involves a construction loan amounting to $217,000,000.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $217,000,000
• Lender: New York State Energy Research & Development Authority, Redstone Bank & Goldman Sachs Urban Investment Group
• Landlord: Lisa Gomez - L+M Development Partners & Apex Building Group

Key individuals and companies involved in this deal include Apex Building Group and L+M Development Partners, which secured the $217 million in construction financing for Phase 3 of the Alafia Project. This phase will facilitate the development of two residential buildings comprising 273 affordable housing units along with new public green spaces.