Borough Developers Secures $64M Loan From MF1 Capital For 99-Unit Multifamily In Brooklyn

The property asset involved in this transaction is a multifamily building located at 151 South Elliott Place in Fort Greene, Brooklyn, comprising 99 units. The construction loan secured for this property amounted to $64 million, which was utilized for the financing of the Elliot apartments.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $64,000,000
• Lender: MF1 Capital
• Landlord: Borough Developers
• Brokers: Leah Paskus & Shlomy Wertzberger - Landstone Capital Group
• Loan Type: Construction

Key individuals involved in this transaction include Borough Developers as the landlord and MF1 Capital as the lender who provided the financing. The deal was arranged by Leah Paskus and Shlomy Wertzberger of Landstone Capital Group, who played a crucial role in facilitating the loan for the development of the multifamily asset.