NEW YORK CITY — Madison Realty Capital (MRC) has provided Zelig Weiss with $81 million in financing for the development of 55 Wythe Avenue in Brooklyn’s Williamsburg neighborhood. The project will be a 22-story, 260,000-square-foot mixed-use property that features retail, restaurant and commercial space, as well as a 183-room Level Hotel. The development will bring 40,000 square feet of retail space, a public rooftop garden, office space on the lower levels, and a Level Hotel with a banquet hall and pool deck. MRC initially provided Zelig Weiss with $18.35 million in acquisition financing for the site in May 2014. Andy Nemeroff and Michael Nemeroff of Imperial Capital Co. and Joel Friedman of Nationwide Realty represented the borrower in the transaction.
The mixed-use development will bring a 183-room Level Hotel and 40,000 square feet of retail space, as well as an office component, to Brooklyn’s Williamsburg neighborhood.
Madison Realty Provides $81M Loan for Level Hotel Mixed-Use Project in Brooklyn
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