A former Key Food site in Brooklyn is up for redevelopment with housing.
Commercial Observer reports that Goose Property Management has secured a $86.7-million loan for the acquisition and construction of a 175,000-square-foot development located at 575 Grand Street in Williamsburg. The proposed project would include 186 residential units, with 30 percent of that total to be set aside as affordable housing.
A rendering of the project at 575 Grand depicts a contemporary eight-story building.
Goose Property Management, based out of Brooklyn, reportedly paid $42.5 million to purchase the property from Tapps Supermarkets.
SCALE Lending provided the debt package for the project.
- Williamsburg (Urbanize NYC)