Meridian Capital Group

BHI Lends $35M on Brooklyn Apartments Build

May 03, 2023

The Jay Group has sealed $34.8 million of construction financing to build a multifamily development in Greenpoint, Brooklyn, Commercial Observer has learned.

BHI, a U.S. division of Israel-based Bank Hapoalim (BKHYY), provided the loan for the developer’s  70-unit project at 210 Greenpoint Avenue, the site of a former Speedway gas station. 

Meridian Capital Group’s Morris BeteshOmar Ferreira and Dov Jeremias arranged the transaction. 

“Despite the challenging capital markets environment, lenders are still actively financing quality projects developed by quality sponsors like The Jay Group,” Betesh said in a statement. 

The nine-story 210 Greenpoint development will include nearly 6,300 square feet of ground-level retail space, more than 7,500 square feet of basement retail space, and 28 on-site parking spaces. Twenty-one of its apartments will be designated as affordable housing under the Affordable New York Housing Program.

Officials at BHI and the Jay Group did not immediately return requests for comment.

Read Article
Recent Articles | Back to News

Salon V Owners to Open 4,000-Square-Foot Kids' Salon in Flatiron District

Article
May 3, 2023

Horror-Themed Book Cafe Twisted Spine to Open in Williamsburg

Article
May 3, 2023

Renew York Spa to Open 4K-SF Chelsea Spa

Article
May 3, 2023

Chinese Restaurant Lin & Daughter to Open in NoMad

Article
May 3, 2023

Multi-generational multifamily owners - who’s in and who’s out - by Shallini Mehra and Amit Doshi

Article
May 3, 2023

Castellan Real Estate Partners Lends $25M on Williamsburg Condos Build

Article
May 3, 2023