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2480 Atlantic Ave. in Brooklyn's East New York is an adaptive re-use project being developed by Bushburg and The Moinian Group

Moinian Group, Bushburg JV on Adaptive Re-Use in East New York 

The Moinian Group and Bushburg completed a $105-million construction loan for 2840 Atlantic Ave. in Brooklyn’s East New York neighborhood. Foundation work has already begun on this 14-story adaptive re-use project, which will include luxury residential and affordable units, community space, retail units, a landmarked façade and parking.    

The loan was supplied by Valley Bank and Cross River Bank. The Moinian Group supplied additional preferred equity to fund the construction. The residential units are anticipated to be available for lease in the first quarter of 2024.  

“Bushburg buys and builds right and has the same passion and vision for New York’s emerging markets,” said Joseph Moinian, Founder & CEO of The Moinian Group, who noted that this is the second joint venture between the two firms. “We look forward to delivering this project and are eager to work with Bushburg again on future developments in Brooklyn and elsewhere.”  

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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