The Hudson Companies Inc. has secured a $135 million construction loan for a Class A multifamily development at 975 Nostrand Avenue in Brooklyn. Santander and Related Companies provided the loan.

Led by Gideon Gil, Zachary Kraft, and Sebastian Sanchez, a Cushman & Wakefield Equity, Debt & Structured Finance team represented the borrower. “As one of the last 421a development sites in New York City, 975 Nostrand Avenue will bring 328 best-in-class units to the neighborhood,” said Gil. “With 99 units designated as affordable, this property will help fulfill a critical need for affordable housing in a submarket that has experienced sustained demand and a dearth of supply.” 

The nine-story building will feature amenities such as a furnished roof terrace, landscaped courtyard, fitness and yoga rooms, karaoke room, and pet spa. Additionally, the property will include a 21,000-square-foot FRESH supermarket, traditional retail space, and below-grade parking. Completion is expected in Q4 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.