BEB Capital, Totem, Ofer Cohen, and SK Development have secured $121 million in financing for the development of a 14-story, 187-unit mixed-income housing and retail project at 737 4th Avenue in Sunset Park, Brooklyn.  

Canyon Partners Real Estate LLC and J.P. Morgan provided the $96 million construction financing, with Tribeca Investment Group arranging a $25 million investment. The project includes 46 permanently affordable units, a Community Benefits Agreement with local organizations, and 6,200 square feet of ground-floor retail space.  

The Walker & Dunlop New York Capital Markets team led by Aaron Appel, Jonathan Schwartz, Adam Schwartz, Keith Kurland, and Michael Ianno acted as the exclusive advisor and secured the financing on behalf of the ownership team. The development is scheduled for completion in Fall 2025. 

On April 18, join multihousing’s leaders and dealmakers when they explore the most important topics facing the Phoenix and Scottsdale markets today. Register to attend and hear expert insights first-hand, network with the best in the industry, and sit in on discussions you won’t hear anywhere else. Connect Phoenix Multifamily & Single-Family Build-to-Rent on April 18 at the Westin Kierland Resort & Spa.