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Mixed-Use Development in Williamsburg, Brooklyn Closes on $32M Loan

Madison Realty Capital provided construction financing for a 421a-eligible development site owned by Mendel Roth.

744 Bedford Ave. 744 Bedford Ave., Williamsburg, Brooklyn

NEW YORK CITY—Madison Realty Capital closed a $31.49 million first mortgage loan collateralized by a mixed-use development at 744 Bedford Ave. in Williamsburg, Brooklyn. All of the proceeds of the loan will be used to complete construction of a 134,742 square-foot building. Industry sources confirm that Mendel Roth of Bedford Roth Holding LLC is the property owner.

The project plans include 86 one-bedroom units averaging 565 square feet, and two approximately 870 square-foot two-bedroom units, 18,393 square feet of retail space and 76 parking spaces. All of the residential units will have outdoor space including terraces or balconies ranging from 30 to 100 square feet.

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Betsy Kim

Betsy Kim

Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.

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