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M&T Realty Capital placed a $144-million loan for the Brodsky Organization's recently developed Plank Road Apartments in Brooklyn

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.” 


Inside The Story

M&T Realty Capital's Falzarano

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-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 15-20 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 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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