News May 22, 2019
Abraham Brach, Parkview Management land $50M loan for Williamsburg condo project
The Real Deal reports that Madison Realty Capital has extended a $50 million loan to Abraham Brach for his multi-building Williamsburg development project. The multi-use development is home to a nearly-complete condo project as well as 7,500 square feet of office space, a vacant residential development site, and ground floor retail space. MRC’s loan will close out the project’s outstanding debt as well as fund the remaining development on the condos and cover the rest of the development costs. Madison Realty Capital is one of the leading private debt investment firms in the country; their latest Capital Debt Fund raised more than $1.1 billion dollars when it closed out earlier this year.