Goldman Sachs Provides $116 Million Construction Loan For Joseph Ferrara's Parkside Commons Redevelopment

The asset involved in this transaction is a MultiFamily property located at 1901 East Fayette Street in the Syracuse market. The total loan amount for this transaction is $116,000,000, which is part of a larger financing package aimed at redevelopment efforts.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $116,000,000
• Lender: Goldman Sachs
• Landlord: Joseph Ferrara - BFC Partners & SAA Canopy Group
• Loan Type: Construction
• Overall Financing Package: $269 million

This transaction involves key players including Goldman Sachs, which provided the substantial construction loan, and Joseph Ferrara, representing BFC Partners and SAA Canopy Group, who are overseeing the redevelopment of the Parkside Commons, a Section 8 affordable housing complex.