Louis Lebovits Of BridgeCity Capital Provides $28 Million Construction Loan For Brooklyn Multifamily Development

The asset involved in this transaction is a multifamily property located in Brooklyn, comprising 115 residential units with a building size of 65,332 square feet. The loan amount secured for this property is $28,000,000 as part of a construction loan with terms set for 18 months and extension options available, with a loan-to-cost ratio of 77%.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $28,000,000
• Lender: Louis Lebovits - BridgeCity Capital
• Loan Type: Construction
• Loan Terms: 18 months + extension options
• LTC: 77%
• Market: Brooklyn
• Units: 115 (Residential)
• Building Size: 65,332

The key individual facilitating this transaction is Louis Lebovits, who represents BridgeCity Capital, an entity actively financing mixed-use, residential, industrial, and construction projects across the Tri-State Area, South Florida, and various other states. Inquiries related to loans can be directed to Louis at [email protected].