Spencer An signs $80M construction loan with Centennial Bank for Bed-Stuy development

Spencer An through the entity Spenceran, Inc. as borrower signed a new construction loan with lender Centennial Bank valued at $80 million at 1100 Myrtle Avenue in Bedford-Stuyvesant, Brooklyn.
The deal closed on April 15, 2021 and was recorded on June 2, 2021.
Shorewood Real Estate Group filed plans in June 2020 for a 195,548-square-foot, 233-unit mixed-use development at this parcel. The price per buildable square foot is $409 per the PincusCo analysis.
The signatory for Spencer An was Spencer An.
Over the past five years, there have been 4 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000.

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