158 Lott Street Update 04/18/24

Developer Obtains $110M Loan for 2-Building Project in Flatbush

Developer, , has just landed a $110 million loan for a 2-building project, set to rise at 2359 Bedford Avenue and 158 Lott Street in Brooklyn's Flatbush neighborhood. Issued by BHI and Be Aviv, this influx of capital will fund all construction costs from start to finish.

The two abutting buildings will come as part of a larger, multi-building development, known as "Bedford Square". Both have been designed by  and are being constructed by .

2359 Bedford Avenue is a 7-story structure, set to contain 132 rental apartments, 4,693 square feet of commercial space (likely ground-floor retail), and 10,691 square feet of community facility space. Plans also call for an enclosed parking garage, with enough room for 52 vehicles. The building will stand 74 feet tall and total 166,814 square feet.

158 Lott Avenue will be a 5-story building, offering 95 rental apartments. It will also feature an enclosed parking garage, with enough room for 46 vehicles. The structure will stand 55 feet tall and total 111,882 square feet.

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