SCALE Issues $150M Loan to Bronx Resi Project 

SCALE Lending, Slate Property Group’s lending arm, has provided a $150 million construction loan for Beitel Group’s 450-unit multifamily project in the Bronx’s Mott Haven. The loan will aid in completing the 289,000-square-foot development, expected to be finished in mid-2025. 

Leah Paskus of Landstone Capital Group arranged the loan. The new rental building will offer studios to 2-bedroom units with private terraces and amenities like an outdoor courtyard, fitness center, and rooftop lounge. 

SCALE’s recent deals include a $140 million loan for Clipper Equity’s Flatbush project and a $46 million loan for Arris Grand in Brooklyn’s Clinton Hill. “The need for multifamily in New York City’s residential neighborhoods continues to grow, and new housing projects like 120 East 144th Street are critical in helping meet that demand,” said Martin Nussbaum, Co-Founder and Principal at Slate Property Group.

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