Madison Realty Capital Provides $53M Construction Loan For Heritage Equity Multifamily In Sunset Park | 875 4th Avenue | Elliott Kunstlinger | MultiFamily | Loan

Summary

Loan

NEW YORK

MultiFamily

25,042 sqft

The construction loan for a multifamily property in Sunset Park has been secured by 875 4th Avenue. The loan amount of $53,000,000 will be provided by Madison Realty Capital, represented by Josh Zegen. The landlord, Heritage Equity Partners, led by Toby Moskovits and Michael Lichtenstein, will oversee the project. Elliot Kunstlinger from Meridian Capital Group acted as the broker in this transaction. The property comprises of 150 units and is located at 875 4th Avenue in Sunset Park.

Summary of transaction details

Property Type: Multifamily
Transaction Amount: $53,000,000
Address: 875 4th Avenue
Market: Sunset Park

Toby Moskovits and Michael Lichtenstein of Heritage Equity Partners are the key individuals in this deal. Madison Realty Capital's Josh Zegen represents the lender in the transaction. Elliot Kunstlinger from Meridian Capital Group served as the broker.

Players

All
2

Agents
1
Agencies
1

Elliott Kunstlinger

Vice President

Meridian Capital Group

Details

Deal Summary

FINANCED

IMAGE: LOAN IMAGE: Toby Moskovits & Josh Zegen DATE: 01/14/2021 ADDRESS: 875 4th Avenue MARKET: Sunset Park ASSET TYPE: Multifamily LENDER: @MadisonRealtyCapital - Josh Zegen LANDLORD: Heritage Equity Partners - Toby Moskovits & Michael Lichtenstein BROKER: Elliot Kunstlinger - Meridian Capital Group LOAN AMOUNT: $53,000,000 UNITS: 150 LOAN TERMS: LIBOR-based, floating-rate

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Address875 4th Avenue

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