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Avdoo & Partners Secures $105M for Boerum Hill Condos
Avdoo & Partners Development has successfully secured a $105 million senior construction loan from Valley National Bank for their upcoming project at 323 Bergen Street in Boerum Hill, Brooklyn.
The project will deliver 105 condominium residences across 243,000 square feet, accompanied by more than 25,000 square feet of amenities. With 400 feet of frontage along Bergen Street, the Avdoo team aims to build a seven-story building, with condo sales set to commence next year.
“This loan represents an exciting step in actualizing our vision,” said Shlomi Avdoo, principal and founder of Avdoo & Partners Development. “Amidst the formidable hurdles posed by the current high-interest rate landscape, we deeply appreciate Valley’s unwavering support and confidence in our project. Boerum Hill can look forward to a development that not only enhances its architectural charm but also harmonizes with the neighborhood’s distinct character.”
- ◦Financing
