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 a prime location boasting 400 feet of frontage along Bergen Street, the Avdoo team plans to construct a seven-story building with condo sales scheduled to launch next year.
According to Shlomi Avdoo, principal and founder of Avdoo & Partners Development: “This loan marks an exciting milestone in bringing our vision to life. Despite the challenges presented by today’s high-interest rate environment, we are grateful for Valley’s steadfast support and confidence in our project. Boerum Hill can anticipate a development that not only enhances its architectural appeal but also complements the neighborhood’s unique character.”
