Scale Lending Provides $137M Acquisition & Construction Loan For Development Site On Broadway, Williamsburg

Located at 555 Broadway, in the bustling neighborhood of Williamsburg, this development site has recently undergone a significant transaction. With a buildable square footage (BSF) of 330,000, this property holds immense potential for future growth and development.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $137,000,000
• Lender: SCALE Lending - Martin Nussbaum & David Schwartz
• Landlord: Loketch Group, Joyland Group & Meral Property Group

Leading the lending aspect of this deal is SCALE Lending, represented by Martin Nussbaum & David Schwartz. Their expertise in real estate financing and construction loans makes them a key player in facilitating this acquisition and construction project. Working closely with the Loketch Group, Joyland Group, and Meral Property Group, they have provided a loan amount of $137,000,000 for the acquisition and construction of this prime development site on 555 Broadway.