11 Broadway, Williamsburg, Brooklyn

This mixed-use development at 11 Broadway in Williamsburg, Brooklyn represents a significant refinancing of a premium retail and residential asset. The project was developed with a focus on creating value through a strategic mix of residential condominiums and ground-floor commercial space, including a grocery store and spaces designed for a restaurateur. The property benefits from its proximity to the Williamsburg Bridge and strong transit access.

Financing for the project incorporated Low-Income Housing Tax Credits (LIHTC) and a New Markets Tax Credit (NMTC) allocation, supporting both affordable housing goals and economic development in the area. The transaction has contributed to job creation and included environmental remediation as part of the redevelopment, aligning with sustainable and community-focused investment objectives.

Key individuals involved in this transaction include Mike Hennessy and Adam Kaplan of Scouter Capital, who provided expertise in structuring and securing the refinancing. The property's 92% occupancy and strong anchor tenants underscore its position as a stable, cash-flowing asset with continued growth potential.