Hope Street Capital Secures $69 Million Bridge Loan In Crown Heights Transaction

The Mason Grey is a 158-unit multifamily building located at 959 Sterling Place in Crown Heights, Brooklyn. Jeffrey Gershon's Hope Street Capital secured a $69 million bridge loan from Invictus Real Estate Partners for the completion of the project, including 48 affordable units and amenities like a fitness center and co-working spaces.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $69,000,000
• Units: 158
• Address: 959 Sterling Place
• Market: Crown Heights, Brooklyn
• Lender: Invictus Real Estate Partners
• Landlord: Jeffrey Gershon - Hope Street Capital
• Brokers: Aaron Appel, Michael Diaz, Keith Adam & Jonathan Schwartz - Walker & Dunlop
• Loan Type: Bridge
• Loan Terms: 18-month construction loan with two six-month extension options

The transaction involved key individuals such as Aaron Appel, Michael Diaz, Keith Adam, and Jonathan Schwartz from Walker & Dunlop, who served as brokers in the deal facilitating the loan for the Mason Grey project.