Midyan Gate Realty Portfolio

Location: Brooklyn, NY
Type: Mixed Use
Price: $ 13,750,000

SMC’s $13,750,000 first mortgage loan is collateralized by a 66,400 SF portfolio of 5 retail properties in Brooklyn, New York. The Subject Portfolio is 95.5% leased and well located with excellent visibility along East 98th Street, Kings Highway and Rockaway Parkway in the Brownsville section of Brooklyn, less than 4 miles east of Manhattan. The subject financing relinquished a portion of the Sponsor’s total proceeds to acquire and develop the Subject. The balance outstanding results in approximately 12.42% of equity remaining in the Property.