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202 Tillary, Brooklyn, NY Rendering of proposed buildings at 202 Tillary St. in Brooklyn / Image provided by Progress Capital

NEW YORK CITY—Maddd Equities and Joy Construction received $51 million in two separate loans to complete acquisitions in the Bronx and Brooklyn. The joint venture acquired 27,675 square feet of paved parking at 1150-1159 River Ave. in the Bronx for $35 million. The lot is at the intersection at McClellan Street. The owner was the River Avenue Realty Corporation, according to PropertyShark. In a separate transaction, the buyers purchased the 115,000 square-foot American Self Storage Building at 202-208 Tillary St. for $60 million from Warren Diamond.

Betsy Kim

Betsy Kim is 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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