Ponce Bank Provides $29M Construction Loan For Brooklyn Triangle Mixed-Use Project With Seven Stone Capital

The asset involved in this transaction is a mixed-use property located in the Brooklyn Triangle market, comprising a total square footage of 55,000. The asset contains 27 units, including 1 commercial unit and 26 residential units.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $29,000,000
• Lender: Ponce Bank
• Loan Type: Construction
• Loan Terms: 24 months
• Landlord's Representative: Meir Kessner & David Eisen - Seven Stone Capital
• Note: This is a high leverage 80% LTC construction loan for a Ground-Up Mixed-Use condo project.

Meir Kessner and David Eisen from Seven Stone Capital represent the landlord in this transaction, providing expertise in navigating the complexities of financing a construction loan dedicated to a mixed-use condo development project.