BK Mixed-Use Condo Lands $33M

Meridian Capital Group has arranged $33.1 million in financing for the construction of a mixed-use condominium property in Brooklyn’s Park Slope. The financing, provided by a balance sheet lender, was secured by Morris Betesh, Eli Serebrowski, and Alex Bailkin of Meridian.  

The six-story development will feature 29 condo units and one townhome. “Despite tightening bank liquidity in the construction lending market, we were able to secure low-cost financing from a community bank to fund the development of 29 condo units, ground-floor retail, and the conversion of a historic building into a single-family townhome. Demand for condos in Park Slope has held strong through the high interest rate environment,” said Betesh.