Mission Capital Arranges $25.5M Construction Loan For Multifamily Property At 21 Garden Street, Brooklyn

A loan was arranged for a multifamily asset located at 21 Garden Street, Brooklyn. The property has a total square footage of 52,845 and consists of 52 units. The loan amount is $25,500,000 and falls under the category of a construction loan.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $25,500,000
• Asset Address: 21 Garden Street, Brooklyn
• Square Footage: 52,845
• Units: 52
• Lender: Post Road Group - Jason Carney & Patrick Monaghan
• Landlord: Rivington Company - Travis Stabler & Alejandra Khan
• Brokers: Jonathan More, Lexington Henn & Steven Buchwald - Mission Capital
• Loan Type: Construction loan

The financing was facilitated by Jason Carney and Patrick Monaghan from Post Road Group, while Rivington Company is represented by Travis Stabler and Alejandra Khan. The brokers involved in the transaction are Jonathan More, Lexington Henn, and Steven Buchwald from Mission Capital. Notably, the property qualifies for a 421-A tax abatement.