Rockshire Group Secures $103.58M Construction Loan From Ponce Bank And Crowdfunz In Brooklyn

A development site located at 245 Duffield Street in Brooklyn has secured a construction loan. The site encompasses approximately 150,000 BSF. The loan amount is $103,580,000, structured to provide construction financing for a condo development with terms of 2 years plus a 1 year extension.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $103,580,000
• Lender: Yanni Kouzilo & Douglas Romero - Ponce Bank & Johnny Zhang - Crowdfunz
• Borrower: Minle Shi - Rockshire Group
• Seller's Representative: Li (Barbie) Li - B Square Realty
• Lender's Attorneys: Jane Chen - The Usinger Law Practice PLLC & Jing An - Altman & An LLP
• Loan Terms: 2 years plus 1 year extension
• Market: Brooklyn

This transaction involves key players from multiple organizations, including Yanni Kouzilo and Douglas Romero representing Ponce Bank, which is recognized as one of New York City's most active construction lenders. Johnny Zhang is associated with Crowdfunz. The borrower, Minle Shi, is linked to the Rockshire Group, reflecting a longstanding relationship with Ponce Bank. The seller's representation comes from Li (Barbie) Li of B Square Realty. The legal aspects of the transaction are managed by Jane Chen and Jing An.