LibreMax Capital borrows $32.5M from Axos Bank for development project in East Williamsburg

LibreMax Capital through the entity Lexington Umbrella VF, LLC as borrower signed a loan agreement with lender Axos Bank valued at $32.5 million for 1 parcel, including the tax class multifamily, more than six families with stores (C7) and containing 69 residential units at 710 Metropolitan Avenue in East Williamsburg. The deal closed on July 27, 2020 and was recorded on August 4, 2020.
The property contains a total of 78,155 square feet of built space.

Fred Brettschneider’s LibreMax borrowed $32.5 million from Axos Bank secured by a collateral assignment of its $45 million construction and land loan it provided to Raymond Steffen’s SL Development.

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