BridgeCity Capital Provides $37.6M Construction Loan For 71-Unit Multifamily At 1084 Pacific Street

The asset involved in the transaction is a multifamily property located at 1084 Pacific Street, Brooklyn, consisting of 71 units. The loan amount secured for this property is $37,600,000, categorized under construction financing with terms of 24 months plus extension options. The loan-to-cost ratio is set at 86%.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $37,600,000
• Loan Type: Construction
• Loan Terms: 24 months + extension options
• LTC: 86%
• Address: 1084 Pacific Street
• Market: Brooklyn
• Lender: Louis Lebovits, Allan Moishe, Moishe Loketch & Pinny Loketch - BridgeCity Capital
• Units: 71

The deal was facilitated by a team of individuals from BridgeCity Capital, who specialize in financing mixed-use, residential, industrial, and construction projects throughout the Tri-State Area, South Florida, and other regions. For inquiries, they can be contacted via the provided email address [email protected].