Avdoo & Partners Development has successfully obtained a $105 million senior construction loan from Valley National Bank for their upcoming project located at 323 Bergen Street in Boerum Hill, Brooklyn. The development will consist of 105 condominium residences spanning over 243,000 square feet and will feature more than 25,000 square feet of amenities. With an impressive frontage of 400 feet along Bergen Street, the Avdoo team plans to construct a seven-story building with condo sales scheduled to begin next year.
According to Shlomi Avdoo, principal and founder of Avdoo & Partners Development, this loan marks a significant milestone in bringing their vision to life. Despite the challenges posed by the current high-interest rate environment, they are grateful for Valley’s unwavering support and confidence in their project. The development aims not only to enhance Boerum Hill’s architectural charm but also blend seamlessly with its unique character.
The announcement was made by Connect CRE on behalf of Avdoo & Partners Development regarding securing $105M for their Boerum Hill condos.
