Thorobird, Dabar get $106M construction loan through city bonds for affordable project in Bed-Stuy

Thorobird Real Estate and Dabar Development Partners through the entity Hp 1921 Atlantic Avenue Housing Development Fund C (and others) as borrower signed a loan agreement with the New York City Housing Development Corporation for $105.9 million in bond funding for development on 15 parcels, including 1921 Atlantic Avenue and 23 Prescott Place, 21 Prescott Place and others in Bedford-Stuyvesant. The deal closed on August 20, 2020 and was recorded on August 31, 2020.

This is a construction loan for the development of affordable housing. A deed transfer shows Dabar Development as the address for the owner company, but the signatory for the borrower on the loan documents was Thomas Campbell of Thorobird.

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