BridgeCity Capital Provides $59.5 Million Construction Loan For Mixed-Use Development In Brooklyn Heights

$59,500,000

$926/SF

Building Size

64,254 SF

Asset Type

Mixed-use

Closing

Apr 29, 2026

AI

The transaction involves a mixed-use property located in Brooklyn Heights, comprising a total area of 64,254 square feet and consisting of 75 units. The loan amount for this construction project is $59,500,000, with terms extending to 27 months and options for extensions, and an LTC of 85%.

Summary of transaction details:

Property Type: Mixed-use
Transaction Amount: $59,500,000
Loan Type: Construction
Loan Terms: 27 months + extension options
LTC: 85%
Lender: Louis Lebovits, Allan Lebovits, Moishe Loketch & Pinny Loketch - BridgeCity Capital
Market: Brooklyn Heights
Asset Size: 64,254 SF
Units: 75

The deal is facilitated by lenders Louis Lebovits, Allan Lebovits, Moishe Loketch, and Pinny Loketch, representing BridgeCity Capital. BridgeCity Capital specializes in financing mixed-use, residential, industrial, and construction projects across the Tri-State Area, South Florida, and other states. For inquiries, contact [email protected].