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The Brodsky Organization Lands $155M for Brooklyn Project

HERO 499President
Raluca Toma - Multi-Housing News

The Brodsky Organization has secured construction financing for 499 President St., an upcoming multifamily community in Brooklyn’s Gowanus neighborhood. M&T Bank and the Bank of New York provided the $155 million loan. The project is being developed in partnership with Avery Hall Investments.

At full build-out, the 322,000-square-foot development will incorporate a mix of 350 studio, one- and two-bedroom market rate and affordable units and 20,000 square feet of ground-floor retail. Designed by SLCE Architects, the project is slated for completion in 2025.