RiseBoro Community Partnership Secures $24.7M Rehab Construction Loan For Bushwick Multifamily

A subsidiary of RiseBoro Community Partnership, Riseboro Tpt 10 LLC, has secured a rehab construction loan of $24.7 million from Citizens Bank for a portfolio of six properties in Brooklyn's Bushwick neighborhood. The properties consist of a total of 72 multifamily units, located at 113-115 Linden Street, 109-111 Linden Street, and 160 Bleecker Street.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $24,700,000
• Units: 72
• Lender: Citizens Bank - Allen Lamboy
• Landlord: RiseBoro Community Partnership - Emily Kurtz

The loan, provided by Citizens Bank, will be used for the rehabilitation and construction of the properties. This financing will enable Riseboro Tpt 10 LLC to improve and enhance these assets, contributing to the development and revitalization of the Bushwick neighborhood in Brooklyn.