Double U Development Secures $51 Million Construction Loan From Lorimer Capital For Williamsburg Retail Project

The asset involved in this transaction is a retail property located at 29 Wythe Avenue in Williamsburgh, Brooklyn. The property spans 126,500 square feet and is in the construction phase. A loan amounting to $51,000,000 has been secured for its development.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $51,000,000
• Address: 29 Wythe Avenue
• Market: Williamsburgh, Brooklyn
• Asset Size: 126,500 square feet
• Lender: Evan Bell - Lorimer Capital
• Landlord: Michael Weitzman - Double U Development
• Broker: Richard Sutton - Parallel CRE
• Loan Type: Construction

This transaction involves multiple key figures in the real estate sector. Evan Bell represents Lorimer Capital as the lender for this construction loan. Michael Weitzman is the landlord, representing the interests of Double U Development, while Richard Sutton serves as the broker for Parallel CRE in this deal.