Xin Development Group has closed on a $45 million inventory loan for The Oosten Condominiums in South Williamsburg, Brooklyn. The owner and developer will use the inventory loan to pay off remaining construction loans secured to finance completion of the property.
The affordable housing lottery has launched for 64 Scholes Street, an eight-story senior housing building in Williamsburg, Brooklyn. Designed by Aufgang Architects and developed by Arker Companies, the structure yields 65 residences and community facility space. Available on NYC Housing Connect are 44 units for residents at 60 percent of the area median income (AMI), ranging in eligible income from $38,263 to $57,300.
Permits have been filed for an eight-story mixed-use building at 310 North 7th Street in Williamsburg, Brooklyn. Located between Meeker Avenue and Havemeyer Street, the lot is one block from the Metropolitan Avenue subway station, serviced by the G train. Yisroel Greenfeld is listed as the owner behind the applications.
Goose Property Management has received $87.6 million in financing to complete construction on a 186-unit rental property in Williamsburg, Brooklyn. Located at 575 Grand Street in a busy pedestrian corridor, the development will top out at nine stories and comprise approximately 175,000 square feet.
Permits have been filed for an eight-story residential building at 88 North 1st Street in Williamsburg, Brooklyn. Located between Berry Street and Wythe Avenue, the interior lot is within walking distance of the Bedford Avenue subway station, serviced by the L train. Hershy Silberstein of Blue Shine Builders Inc. is listed as the owner behind the applications.