Affinius Capital Offers $110M in Construction Financing for Brooklyn Multifamily Project

Gindi Capital and Avery Hall have secured $110 million in construction financing from Affinius Capital to develop a 13-story, 193-unit multifamily building in Brooklyn. Located on 4th Avenue between Union and Sackett Streets, the building will also feature 14,000 square feet of prime retail space. Additionally, the project includes amenities such as a rooftop lounge and pool, coworking space, children’s playroom fitness center pet-washing station tenant storage bike room. The completion date is set for 2024 with mixed income housing available for Gowanus and Brownstone Park Slope neighborhoods. This site is located within an Opportunity Zone that will be held as long term rental asset.
JLL’s Christopher Peck & Peter Rotchford arranged this financing deal successfully .  This new development provides an opportunity to invest in Brooklyn’s growing real estate market while providing much needed housing options for local residents .