L+M Development borrows $82M from New York State Housing Finance Agency for new construction in Brownsville

L+M Development Partners through the entity Mgx Associates Phase 1 LLC as borrower signed a loan agreement with lender New York State Housing Finance Agency through the entity New York State Housing Finance Agency valued at $81.8 million for 2 parcels, including 215 Livonia Avenue in Brownsville. The deal closed on December 18, 2019 and was recorded on January 7, 2020.
This is a portion of a larger, 700-unit development.

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