Manatus Development, Henry Hewes, Feldman and Gerard families obtained financing of $20M from Citi Real Estate Funding

Broadway Bushwick Builders, a partnership of Manatus Development, hospitality executive Henry Hewes and the Feldman and Gerard families through the entity Dg 951 Sponsor LLC as borrower signed a loan agreement with lender Citi Real Estate Funding Inc. valued at $20.2 million for five parcels, including the tax class commercial condo recorded in Acris (CC) at 951 Madison Street also known as 1427 Broadway in Bushwick. The deal closed on August 16, 2019 and was recorded on September 06, 2019. The package includes new $9 million debt covering three of the five condominium units.
The property contains 37 residential units and commercial space. Betances Health Center occupies some of the commercial space, according to The Real Deal, which reported the property was being offered for sale for $34 million last fall.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link
A recent story on the property. link.