Urban Standard Provides $1.3M Loan for Residential Redevelopment Project in Brooklyn
NEW YORK CITY — Urban Standard Capital, a New York-based lender, has provided a $1.3 million loan for the acquisition and pre-development of a 3,648-square-foot residential development site in Brooklyn. The property is located at 419 Manhattan Ave. and currently houses a retail and office building with a residential unit on top. The undisclosed borrower plans to redevelop the property to add two condos and a roof deck. Gerald Kray and Daria Benstead of Marcus & Millichap placed the loan.