search

The Real Deal Logo

Trending

Lawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421a“Investing before the ‘all clear’ sign”: Jon Gray on Blackstone’s $10B apartment deal“Investing before the ‘all clear’ sign”: Jon Gray on Blackstone’s $10B apartment dealVictor Sigoura picks up site of failed West Chelsea condo for $87MVictor Sigoura picks up site of failed West Chelsea condo for $87MGVA sells Georgetown apartments for $25M in “forced sale” GVA sells Georgetown apartments for $25M in “forced sale” 
Commercial
New York

Moshe Braver lands $110M refi for massive Bushwick project

Benefit Street is the lender

Ira Zlotowitz and the site at 340 Evergreen Avenue in Brooklyn (LinkedIn and Google Maps)
Ira Zlotowitz and the site at 340 Evergreen Avenue in Brooklyn (LinkedIn and Google Maps)

Moshe Braver’s Bushwick Realty Holdings landed a $110 million mortgage to refinance its 200-plus apartment project in Bushwick.

Benefit Street Partners Realty Trust is the lender. Eastern Union’s Ira Zlotowitz and Meir Kessner brokered the deal.

As part of the development, Braver has so far completed three six-story buildings at 869-871 Bushwick Avenue in 2015. He is currently building a 56-apartment building at 889 Bushwick Avenue and a 168-apartment building at 340 Evergreen Avenue.

Sign Up for the undefined Newsletter

Braver bought the full-block site for $15 million in 2014, property records show.  The new loan replaces a $90 million mortgage from Centennial Bank.

Benefit Street refinanced Toby Moskovits’ Crown Heights rental building 564 St. John’s Place with a $81 million loan last year.

Eastern Union is one of the city’s most active debt brokerage firms and arranged 435 mortgages in the five boroughs last year, according to The Real Deal’s latest ranking.

Tags
Commercial Real EstateReal Estate Finance