Developer Lands $105M Loan for 325 Bergen Street

Developer and general contractor,  PRO, has just secured a $105 million loan for a 7-story, residential development, going up at 325 Bergen Street in Brooklyn's Boerum Hill neighborhood. Issued by Valley Bank, this influx of capital is being used to fund all construction costs.

Construction is already well underway, and when we visited the site back in late October, most of the concrete superstructure had been formed.

The building is set to contain PRO luxury condo units. It will have several resident amenities, including open gardens and green spaces, although a full list is not yet available at this time. Plans also call for a cellar level and an enclosed parking garage, with enough room for PRO vehicles.

The project site spans PRO square feet and it replaces several smaller buildings, which used to occupy 4 separate lots. Designed by  PRO, the structure will stand PRO feet tall and total PRO square feet. Construction was originally planned to wrap up by the winter of 2024, but with the project nowhere near complete, a finish date in late 2024 seems more likely.

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