BridgeCity Capital Refinances Development Site In Greenpoint, Brooklyn For $18.5M

A development site located at 494 Manhattan Avenue in Greenpoint, Brooklyn has undergone a loan transaction. The property consists of 23 units and is represented by Louis Lebovits in the deal, as mentioned on his Instagram post.

Summary of transaction details

• Property Type: Development site
• Transaction Amount: $18,500,000
• Date: 08/31/2022
• Address: 494 Manhattan Avenue
• Market: Greenpoint, Brooklyn
• Lender: BridgeCity Capital
• Landlord: Joel Schwartz
• Loan Type: Refinance

The loan of $18,500,000 was provided by BridgeCity Capital, with Louis Lebovits representing the lender in the deal. The property is owned by Joel Schwartz, who is the landlord in this transaction.