Ponce Bank Provides $70 Million Construction Loan For Multifamily Development In Brooklyn
FINANCED
$74,000,000
New York
See Similar DealsMultiFamily219,639 SF
Financed 12/03/2025
FINANCED
Ponce Bank Provides $70 Million Construction Loan For Multifamily Development In Brooklyn
2683 Atlantic Avenue
See Similar DealsMultiFamily219,639 SF
Financed 12/03/2025
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$336
Total Square Footage:219,639 SF
Transaction Type:Loan
The property asset involved in the transaction is located at 2683 Atlantic Avenue in Brooklyn. It is classified as a multifamily asset encompassing a total square footage of 219,639 and comprising 230 units. The transaction is supported by a loan amount of $70,000,000 specifically designated for construction purposes with terms set for 24 months.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $70,000,000
- Address: 2683 Atlantic Avenue
- Market: Brooklyn
- Asset Square Footage: 219,639
- Units: 230
- Lender: Ponce Bank
- Broker: David Glauber - Sterling Capital Solutions Inc
- Loan Type: Construction
- Loan Terms: 24 Months
The deal involves Ponce Bank, which emphasizes financing responsibly planned new construction to support New York City's housing needs and boost local economic growth. David Glauber from Sterling Capital Solutions Inc represents the broker in this transaction.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Similar Lenders
Unlock All Profiles
Upgrade to Traded Pro for full access to every deal, profile & market insight.Unlimited deal views
Access investor profiles & contacts
Exclusive comps & market data
Go Pro
Similar Brokers
Top Markets for Multifamily Investment ReportFall 2025
Search Address Tool
Enter any address to instantly view nearby comps, investors, brokers, lenders, and a visual map.NEW!
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$74,000,000.00
Monthly NOI$493,333.33
Monthly Debt Service$467,730.34
Change in Cash Flow$0.00
Refinance Proceeds$0.00
Is there something missing? Send suggestions