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MRC Originates Construction Debt for Williamsburg MXU
Madison Realty Capital (MRC) recently originated a $45.8-million loan to Bruman Realty for the construction completion of a 55-unit mixed use development at 296 Wythe Ave. in Brooklyn’s Williamsburg neighborhood.
The property will offer studio and one-bedroom units, a roof deck, 26 parking spaces, 12,200 square feet of ground-floor retail and 11,500 square feet of below-ground retail space. Each of the Class A multifamily residences will include hardwood floors, granite countertops, stainless steel appliances, washers, and dryers. Thirty percent of the residences will be part of the Affordable New York program.
“Madison has significant experience working with Bruman Realty on projects throughout New York City, and we are pleased to work with their expert team again to deliver a mixed-use luxury property in a neighborhood with strong demand for high-quality living options,” said Josh Zegen, managing principal and co-founder of MRC.
Rendering courtesy of Karl Fischer Architect.
- ◦Financing
