Mezzanine Debt Investment

150 Lawrence Ave Brooklyn, NY

An exciting opportunity to provide mezzanine debt for the construction of a multifamily tower in the heart of vibrant Downtown Brooklyn, led by an experienced developer and in close collaboration with a NYC-based bank.
Invested
Q1 2024
150 Lawrence Ave Brooklyn
Location:
Brooklyn, NY
Units:
110 (with 2 lower floors of commercial space)
Completed:
Under Construction (2025)
Type:
Multifamily

Scenario

Given the industry wide tightening of conventional loan proceeds, real estate developers and operators have been in search of non-bank financing alternatives to fill the gap. As a result, we were contacted by a firm with whom we have collaborated in the past about a broker representing a client in need of mezzanine capital.

Given our continued strategic focus on fixed income positions and the general stability of the multifamily sector in the US (particularly markets like NYC), the Project's potential, developer’s expertise, and capital structure proved to be an attractive opportunity.

Asset

When complete, the centrally located Property will be a 25‐story, 110-unit multifamily tower with a facade of white aluminum panels and large glass windows situated on 0.14 acres with an additional 8,344 SF of commercial/retail space. The residential component will contain a mixture of studio, one-bedroom, and two-bedroom units and amenities will include a fitness center, co-working lounge, recreation media room, public rooftop, and lobby area.

150 Lawrence Ave Brooklyn
150 Lawrence Ave Brooklyn
150 Lawrence Ave Brooklyn
150 Lawrence Ave Brooklyn
150 Lawrence Ave Brooklyn

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