M&T Bank Provides $425M Construction Loan For 824-Unit Multifamily Property In New York City

The multifamily property located at 42-06 Orchard Street in New York City has recently undergone a closed loan transaction.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $425,000,000
• Square Footage: 932,000
• Number of Units: 824
• Address: 42-06 Orchard Street
• Market: New York City

The loan was provided by M&T Bank to fund the construction of the property. The landlord of the property is BLDG Management. The deal was facilitated by the brokers Drew Fletcher, Bryan Grover, and Paul Fried, representing Greystone.