New York & Tri-State CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
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.”
- ◦Development
- ◦Financing

