Equicap Closes $14.6M Construction Loan for Multifamily Building in Brooklyn

Pictured is a rendering of 2222 Ocean, which is expected to be completed by fall 2019.

NEW YORK CITYEquicap has arranged a $14.6 million construction loan on behalf of New York-based privately held development firm Winchester Equities. The financing will be used to build 2222 Ocean, a 49-unit luxury multifamily building in Sheepshead Bay, Brooklyn. Equicap obtained a 70 percent loan-to-cost construction loan from a major bank. The building is slated for completion by fall 2019.

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