BEB Capital and Totem, in partnership with Ofer Cohen and SK Development, have secured financing for a new residential development at 737 4th Avenue in Sunset Park, Brooklyn. The structure will yield 187 residential units with 46 designated as permanently affordable homes with a target average price of 48 percent of the area median income, as well as a ground-level retail space. Walker & Dunlop facilitated the $143 million loan for the 193,000-square-foot, 14-story project.
Permits have been filed for a five-story mixed-use building at 862 55th Street in Sunset Park, Brooklyn. Located between 8th and 9th Avenues, the lot is near the 8th Avenue subway station, serviced by the N and W trains. Li Lan Liao is listed as the owner behind the applications.
Permits have been filed to expand a three-story structure into a six-story mixed-use building at 4913 7th Avenue in Sunset Park, Brooklyn. Located between 49th and 50th Streets, the lot is within walking distance of the Fort Hamilton Parkway subway station, serviced by the D train. Qing Liu is listed as the owner behind the applications.
Industry City, an innovation campus that spans approximately 35 acres in Sunset Park, Brooklyn, has announced the signing of three new industrial leases spanning 33,496 square feet. Industry City currently is home to more than 8,500 workers across more than 550 businesses, ranging from small startups and solo entrepreneurs to large enterprises.
