Horizon Group gets $19.8M construction loan for 70-unit project in Bushwick

Horizon Group through the entity Horizon At Irving LLC as borrower signed a loan agreement with lender Bank Leumi valued at $19.8 million for 2 parcels at 1510 Gates Avenue and 335 Irving Avenue in Bushwick. The deal closed on February 12, 2021 and was recorded on March 8, 2021.

The signatories for the borrower entities were David Marom and Joseph Riegler.
The average loan per buildable square foot is not available.
Horizon bought the site from Cheskie Weisz.  Horizon has permitted plans for a 70-unit residential building on the site.
Direct link to Acris document. link