Joel Wertzberger Secures $66M Construction Loan In Gowanus, Brooklyn

The multifamily property located at 125 3rd Street in Gowanus, Brooklyn spans 150,000 square feet and consists of 130 units. The transaction involved a construction loan with a total amount of $66,000,000 provided by ICross Capital. The landlord, Joel Wertzberger, oversaw the deal with Morris Betesh from Meridian Capital Group acting as the broker.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $66,000,000
• Address: 125 3rd Street
• Market: Gowanus, Brooklyn
• Loan Type: Construction
• Loan Terms: 30 Months
• Lender: ICross Capital
• Landlord: Joel Wertzberger
• Broker: Morris Betesh - Meridian Capital Group

Lily Guo, along with Joel Wertzberger and Morris Betesh, played vital roles in the successful completion of the transaction. While Lily Guo's specific involvement was not detailed in the provided information, it is clear that the collaborative efforts of all individuals and companies mentioned were instrumental in closing this significant deal in the Gowanus market.