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M&T Realty Places $144M Loan for Brodsky Project in Brooklyn
M&T Realty Capital Corporation recently placed a $144,000,000 permanent loan secured by Plank Road Apartments, a newly built, 312-unit luxury multifamily property developed by The Brodsky Organization. The 10-year, interest-only term rate locked 60 days prior to closing with a life company relationship.
John Taylor and Donna Falzarano of M&T Realty Capital’s NJ office led the transaction, in collaboration with Mike Edelman, Kyra Berzinis, and M&T Bank’s Andrea Wagonseller.
Plank Road Apartments is located near the Barclays Center within the 22-acre Pacific Park New York development in Brooklyn. “We’re honored at the opportunity to have represented The Brodsky Organization for this execution,” said Falzarano. “Our marketing efforts gave them numerous options to choose from. The parties to the deal worked expeditiously to lock rate and close in a challenging environment.”
- ◦Financing
