East 98th Street Portfolio

Location: Brooklyn, NY
Type: Mixed Use
Price: $ 16,000,000

SMC’s $16,000,000 first mortgage loan is collateralized by a 66,400 SF portfolio of 3 retail properties in Brooklyn, New York. The Subject Portfolio is 100% leased and well located with excellent visibility on both sides of East 98th Street between Sutter Avenue and Winthrop Streets in the Brownsville section of Brooklyn, less than 4 miles east of Manhattan. The subject financing recouped a significant portion of the Sponsor’s total costs to acquire and develop the Subject.