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Loan Provided to Crown Heights Residential Project

NEW YORK CITY—A $63-million loan has been issued to complete the development of a multifamily property in the Crown Heights area of Brooklyn. Located…

564 St. Johns Place The property at 564 St. Johns Place will feature outdoor recreational space for residents and parking for 87 cars.

NEW YORK CITY—A $63-million loan has been issued to complete the development of a multifamily property in the Crown Heights area of Brooklyn. Located at 564 St. Johns Place, the 163,598 square foot residential building is slated to feature 193 units.

Heritage Equity Partners owns a controlling stake in the property that could be valued at over $30 million, according to YIMBY.com. That portion of the project reportedly was sold by Rabsky Group.

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Rayna Katz

Rayna Katz

Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.

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