Darren Smith & Timothy Henzy Secure $58.1 Million Loan For Multifamily Development In Brooklyn

A $58.1 million rehab construction loan was secured by Smith & Henzy Affordable Group from the NYS Housing Finance Agency for a multifamily asset located at 88-132 Chauncey Street in Bedford-Stuyvesant, Brooklyn. The property spans a total square footage of 277,200 and comprises 287 residential units.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $58,100,000
• Lender: NYS Housing Finance Agency
• Landlord: Darren Smith & Timothy Henzy - Smith & Henzy Affordable Group
• Address: 88-132 Chauncey Street
• Market: Bedford Stuyvesant, Brooklyn
• Units: 287
• Square Footage: 277,200
• Loan Type: Construction

Darren Smith and Timothy Henzy represent the landlord in this transaction, bringing their expertise from Smith & Henzy Affordable Group to ensure financing for the multifamily development in Brooklyn. Their commitment to affordable housing is reflected in this significant loan secured for the project.