New York

Muss Development lands $49M loan from partner at 1501 Voorhies Avenue

Renderings of <a class="lavamap_link" style="text-decoration: none !important; color: inherit; box-shadow:none !important; pointer-events: none; cursor: default;" href="https://lavamap.com/property/1501-Voorhies-Avenue-Brooklyn-NY/3074591001-0" target="_blank" data-address="1501%20Voorhies%20Avenue%2C%20Brooklyn" data-label="1501%20Voorhies%20Avenue" data-url="https%3A%2F%2Flavamap.com%2Fproperty%2F1501-Voorhies-Avenue-Brooklyn-NY%2F3074591001-0" data-bbl="3074591001" data-blockValue="07459" data-lotValue="1001" data-zipcode="" data-bldgArea="0" data-bldgDepth="0" data-bldgFront="0" data-landUse="" data-lotArea="0" data-lotFront="0" data-lotDepth="0" data-retailArea="0" data-resArea="0" data-officeArea="0" data-garageArea="0" data-strgeArea="0" data-factryArea="0" data-otherArea="0" data-bldgClass="" data-primaryZoning="" data-commercialOverlay="" data-far="0" data-buildable="0" data-airRights="0" data-propertyNeighborhood="Sheepshead%20Bay" data-latitude="40.5863224578036" data-longitude="-73.9535618166937" data-moreList="%5B%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2FviewOnMap.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Flavamap.com%5C%2Fproperty%5C%2F1501-Voorhies-Avenue-Brooklyn-NY%5C%2F3074591001-0%22%2C%22urlLabel%22%3A%22View%20on%20LavaMap%22%7D%2C%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2Fownership.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Flavamap.com%5C%2Fproperty%5C%2F1501-Voorhies-Avenue-Brooklyn-NY%5C%2F3074591001-1%22%2C%22urlLabel%22%3A%22View%20Ownership%20on%20LavaMap%22%7D%2C%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2FleaseComps.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Ftherealdeal.com%5C%2Fnew-research%22%2C%22urlLabel%22%3A%22TRData%22%7D%5D" data-articleList="%5B%5D" rel="noopener">1501 Voorhies Avenue</a> (inset: Joshua Muss

Renderings of 1501 Voorhies Avenue (inset: Joshua Muss

Queens-based builder Muss Development borrowed $48.8 million for its 28-story residential project at 1501 Voorhies Avenue in Brooklyn, records filed with city Friday show. The lender is the publicly-traded AvalonBay Communities, which is also a co-developer of what would be Sheepshead Bay’s tallest building.

Muss and Avalon filed construction plans for the 250-unit building in 2014. Last year they filed an application with the New York State Attorney General’s office to make 56 of those units condominiums, with a total target sellout price of $63 millionOn Thursday, Muss launched sales for the condo units, with one-bedroom units starting at $525,000, Curbed reported. The 331-foot building is branded as “1 Brooklyn Bay” and would span 275,000 square feet, including 15,000 square feet of commercial space.

A representative for Muss Development did not immediately return a request for comment.

Elsewhere in Brooklyn, Muss recently refinanced a 667-key Marriott Hotel downtown and with partner Bedrock Real Estate Partners acquired a 118-unit rental building in Clinton Hill.

AvalonBay, an active rental developer, is pushing forward with an 1,100-unit rental tower in East Harlem, following a thumbs up from the local community board. The project still needs a rezoning to be approved by the City Council.
(To view more Muss Development properties, click here)
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New York

Muss Development lands $49M loan from partner at 1501 Voorhies Avenue

Renderings of <a class="lavamap_link" style="text-decoration: none !important; color: inherit; box-shadow:none !important; pointer-events: none; cursor: default;" href="https://lavamap.com/property/1501-Voorhies-Avenue-Brooklyn-NY/3074591001-0" target="_blank" data-address="1501%20Voorhies%20Avenue%2C%20Brooklyn" data-label="1501%20Voorhies%20Avenue" data-url="https%3A%2F%2Flavamap.com%2Fproperty%2F1501-Voorhies-Avenue-Brooklyn-NY%2F3074591001-0" data-bbl="3074591001" data-blockValue="07459" data-lotValue="1001" data-zipcode="" data-bldgArea="0" data-bldgDepth="0" data-bldgFront="0" data-landUse="" data-lotArea="0" data-lotFront="0" data-lotDepth="0" data-retailArea="0" data-resArea="0" data-officeArea="0" data-garageArea="0" data-strgeArea="0" data-factryArea="0" data-otherArea="0" data-bldgClass="" data-primaryZoning="" data-commercialOverlay="" data-far="0" data-buildable="0" data-airRights="0" data-propertyNeighborhood="Sheepshead%20Bay" data-latitude="40.5863224578036" data-longitude="-73.9535618166937" data-moreList="%5B%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2FviewOnMap.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Flavamap.com%5C%2Fproperty%5C%2F1501-Voorhies-Avenue-Brooklyn-NY%5C%2F3074591001-0%22%2C%22urlLabel%22%3A%22View%20on%20LavaMap%22%7D%2C%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2Fownership.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Flavamap.com%5C%2Fproperty%5C%2F1501-Voorhies-Avenue-Brooklyn-NY%5C%2F3074591001-1%22%2C%22urlLabel%22%3A%22View%20Ownership%20on%20LavaMap%22%7D%2C%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2FleaseComps.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Ftherealdeal.com%5C%2Fnew-research%22%2C%22urlLabel%22%3A%22TRData%22%7D%5D" data-articleList="%5B%5D" rel="noopener">1501 Voorhies Avenue</a> (inset: Joshua Muss

Renderings of 1501 Voorhies Avenue (inset: Joshua Muss

Queens-based builder Muss Development borrowed $48.8 million for its 28-story residential project at 1501 Voorhies Avenue in Brooklyn, records filed with city Friday show. The lender is the publicly-traded AvalonBay Communities, which is also a co-developer of what would be Sheepshead Bay’s tallest building.

Muss and Avalon filed construction plans for the 250-unit building in 2014. Last year they filed an application with the New York State Attorney General’s office to make 56 of those units condominiums, with a total target sellout price of $63 millionOn Thursday, Muss launched sales for the condo units, with one-bedroom units starting at $525,000, Curbed reported. The 331-foot building is branded as “1 Brooklyn Bay” and would span 275,000 square feet, including 15,000 square feet of commercial space.

A representative for Muss Development did not immediately return a request for comment.

Elsewhere in Brooklyn, Muss recently refinanced a 667-key Marriott Hotel downtown and with partner Bedrock Real Estate Partners acquired a 118-unit rental building in Clinton Hill.

AvalonBay, an active rental developer, is pushing forward with an 1,100-unit rental tower in East Harlem, following a thumbs up from the local community board. The project still needs a rezoning to be approved by the City Council.
(To view more Muss Development properties, click here)
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