New York & Tri-State CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
EJS Group, Hope Street Capital Secure $108M for BK Resi Project
EJS Group and Hope Street Capital have secured a $108.15 million construction financing package for their residential project at 12 Halsey Street in Bedford-Stuyvesant, Brooklyn.
The Affordable New York Program comprises three buildings housing around 240 rental units, with 30% allocated as affordable under the 421a program. The project spans 230,000 square feet and includes amenities like a pool, fitness center, lounges, roof gardens, ground-floor retail, and parking, aiming for completion by fall 2025.
Bank OZK provided an $83.15 million senior mortgage, supplemented by a $25 million mezzanine loan from CanAm Enterprises. Aaron Appel of Walker & Dunlop represented EJS Group and Hope Street Capital in the transaction.
- ◦Financing
