BK 187-Unit Mixed-Income Lands $121M Financing

BEB Capital, Totem, Ofer Cohen, and SK Development have secured $121 million in financing for the development of a 14-story, 187-unit mixed-income housing and retail project at 737 4th Avenue in Sunset Park, Brooklyn.

Canyon Partners Real Estate LLC and J.P. Morgan provided the $96 million construction financing, with Tribeca Investment Group arranging a $25 million investment. The project includes 46 permanently affordable units, a Community Benefits Agreement with local organizations, and 6,200 square feet of ground-floor retail space.

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