{"id":132850,"date":"2021-12-13T12:40:22","date_gmt":"2021-12-13T17:40:22","guid":{"rendered":"https:\/\/www.constructionspecifier.com\/?p=132850"},"modified":"2021-12-13T12:40:22","modified_gmt":"2021-12-13T17:40:22","slug":"brooklyn-development-firm-secures-36m-for-mixed-use-building","status":"publish","type":"post","link":"https:\/\/www.constructionspecifier.com\/brooklyn-development-firm-secures-36m-for-mixed-use-building\/","title":{"rendered":"Brooklyn development firm secures $36M for mixed-use building"},"content":{"rendered":"
\"\"<\/a>
Cayuga Capital Management has secured $36 million in financing for a 64-unit, luxury property in Brooklyn\u2019s Bushwick neighborhood.<\/span> Photo courtesy Big Stock<\/span><\/em><\/figcaption><\/figure>\n

Cayuga Capital Management has secured $36 million in financing for a 64-unit, luxury property in Brooklyn\u2019s Bushwick neighborhood.<\/p>\n

The development at 600 Bushwick Avenue comprises 41 two-bedroom apartments and 23 studio apartments, with 30 percent of the property\u2019s multi-family units designated as affordable residences. The building\u2019s retail space covers 1308 m2<\/sup> (14,080 sf) and is 100 percent leased until 2030. Its largest retail tenant, The Learning Experience Academy, is estimated to take occupancy in January 2022.<\/p>\n

On behalf of Cayuga Capital Management, financiers Walker & Dunlop secured a five-year bridge loan with a competitive floating rate to replace the property\u2019s existing construction loan.<\/p>\n

The property was built in 2018 and is one of the newest in the surrounding area. Ideally positioned on the western edge of the Bushwick neighborhood, it is just a block away from the M, J, and Z subway lines, providing residents with ease of access to Manhattan, Brooklyn, and the greater New York metro area.<\/p>\n","protected":false},"excerpt":{"rendered":"

Cayuga Capital Management has secured $36 million in financing for a 64-unit, luxury property in Brooklyn\u2019s Bushwick neighborhood.<\/p>\n","protected":false},"author":27272,"featured_media":132851,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1029],"tags":[4677,4847,6857,3135],"class_list":["post-132850","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-loan","tag-multifamily","tag-property","tag-retail","entry"],"acf":[],"yoast_head":"\nBrooklyn development firm secures $36M for mixed-use building - The Construction Specifier<\/title>\n<meta name=\"description\" content=\"Cayuga Capital Management has secured $36 million in financing for a 64-unit, luxury property in Brooklyn\u2019s Bushwick neighborhood.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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