Secure $62M Construction Loan for New Lidl Store in Brooklyn

Secure $62M Construction Loan for New Lidl Store in Brooklyn

Invictus Real Estate Partners has closed a $62.25 million construction loan for a mixed-use development project in Brooklyn’s Prospect Lefferts Gardens. The seven-story building, located at 1730 Bedford Avenue, will feature residential, commercial and retail spaces including a new 33,000 square foot Lidl grocery store. Additionally the development is being undertaken by Seventh Street Development Group and will include 57 residential apartments as well as Chipotle restaurant and approximately 30,000 square feet of additional retail/commercial space.

Christopher Pardo – co-founder & managing partner of Invictus – commented “despite current market conditions we remain dedicated to delivering comprehensive financing solutions tailored to diverse situations & property types within the real estate sector” Eastern Union’s Abraham Bergman & Yossi Orzel arranged the mortgage for this project.

About the Publisher:
Steve Griffin is based in sunny Palm Harbor, Florida. He’s an accountant by profession and the owner of GRIFFIN Tax and REVVED Up Accounting. In addition, Steve founded Madison Avenue Technology. With a strong passion for commercial real estate, he’s also dedicated to keeping you up to date with the latest industry news.

Share the Post:

Related Posts