Mayer Berkovits Secures $11.2M Construction Loan For Development Site At 327 Broome Street

The development site located at 327 Broome Street in the Bowery, Manhattan, encompasses approximately 10,000 square feet. The property is a luxury 6-story boutique condominium being developed by Mayer Berkovits of BAM Developers. The site will feature six full-floor residences and a three-bedroom duplex penthouse with private outdoor space. The transaction involves a loan amount of $11,200,000 secured for mid-construction refinancing.

The financing for the project was arranged and closed in under two weeks, successfully navigating a complex transaction process. Acknowledgment is given to Josh Grunzweig and Jeremy Goldzal for their role in providing clarity and precision in this mid-construction refinancing deal. Filler Capital took a comprehensive approach to understand the project requirements and the sponsor's positioning, facilitating the identification of the appropriate lender.