BRP Development borrows $23M from M&T Bank to Freddie Mac for property in Bedford-Stuyvesant

BRP Development through the entity Bedford-Stuyvesant South One LLC as borrower signed a loan agreement with lender M&T Bank (which assigned it to Freddie Mac) through the entity M&T Realty Capital Corporation valued at $22.5 million for 3 parcels, including the tax class residential condo (multiple) recorded as sold in Acris (MC) and containing 50 residential units at 27 Albany Avenue, 1577 Fulton Street, 29 Albany Avenue in Bedford-Stuyvesant. The deal closed on May 7, 2020 and was recorded on May 27, 2020.
The property contains a total of 63,720 square feet of built space.

This loan refinances $22.7 million in construction and other debt.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link