Metropolitan Realty borrows $74M from Orix Real Estate for 201 units in Williamsburg

Metropolitan Realty Group through the entity Sumet I Associates, L.P. as borrower signed a loan agreement with lender Orix Real Estate Capital, LLC valued at $74.5 million for 12 parcels, including the tax class multifamily, over six families without stores (C1) and containing 201 residential units at 215 Roebling Street, 226 South 1st Street, 198 South 1st Street, 230 South 1st Street, 202 South 1st Street, and others in Williamsburg. The deal closed on March 12, 2021 and was recorded on March 30, 2021.
The property contains a total of 16,400 square feet of built space.
The average loan per unit is $370,647.

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