$57 Million in Financing for Mixed Use Project in Williamsburg, Brooklyn

329 BROADWAY

LOAN AMOUNT

$57,000,000

Lending Programs - Retail
BROOKLYN, NY

Lending Programs - Multi-Family
MULTI-FAMILY
Lending Programs - Ground-Up Construction
GROUND-UP CONSTRUCTION
Lending Programs - Retail
RETAIL
Lending Programs - Office Space
COMMUNITY OFFICES

THE PROJECT

JLJ Capital provided a $57 million loan to 329 LLC for completion of a strikingly-designed mixed-use 17-story tower at 329 Broadway in Williamsburg, Brooklyn.

BORROWER CREDENTIAL

Borrower is an experienced developer with 20 years of expertise in the development, construction, and management of multi-unit and high-rise luxury condominium buildings, commercial properties, and mixed-use properties. Since 2000, the borrower has completed five major projects worth a collective $96 million and has 4 current projects totaling $125 million.

TRANSACTION KEY TERMS

Closing Date August 2019

Loan Type Refinance & Construction Loan

Loan Amount $57,000,000

Term 16 Months *8-Month Extension Option

Location Brooklyn, NY

Property Type Residential & Commercial

GROSS SQUARE FOOTAGE 105,374 sq ft

329 BROADWAY IN THE PRESS

EXPLORE JLJ CAPITAL GROUND UP CONSTRUCTION TRANSACTIONS

329 BROADWAY

329 BROADWAY

$57.0 MM

DOLCE TWIN CREEKS, II

DOLCE TWIN CREEKS, II

$55.5 MM

EXPLORE JLJ CAPITAL'S LENDING PROGRAMS

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