296 Wythe Avenue Update 02/10/22

Developer Obtains $45.8M Loan for Williamsburg Mixed-Use Project

Developer, , has just secured a $45.8 million loan for 296 Wythe Avenue in Williamsburg, Brooklyn. Leveraged from Madison Realty Capital, the funding will be used to construct a 6-story, mixed-use development. The new building will contain apartments, available in studio and one-bedroom configurations, and 30% of the units will be dedicated to affordable housing.

The building will also have square feet of commercial retail space, split between the ground floor and a cellar level. Additional plans call for an enclosed parking garage with enough room for vehicles. Construction has already begun, and the development is expected to finish in January of 2023.

 

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