Construction cranes have become a permanent fixture in the Downtown L.A. skyline, and the building boom seems to have plenty of runway left. Construction activity reached a new record high in 2017 and developers are continuing to scout for fresh opportunities.
The “renaissance” transforming the central business district and surrounding #urban neighborhoods spans a variety of residential and commercial projects — from condos and apartments to retail, entertainment, office, and hotels. However, residential developers are leading the charge thanks to a renewed appetite for urban living. Last year, 11 new apartment and condo properties opened and added more than 2,800 units, and another 10,000 units were in various stages of #construction at year end.
Check out the link in our bio for more information on how developers are transforming L.A.’s neighborhoods. #CRE#LA#LosAngeles
Thank you @tradedny for the feature!
IMAGE: Wayne N. Grossé and @alexleykind1
ADDRESS: 5301 2nd Avenue, Brooklyn NY
LANDLORD/DEVELOPER: Mr. Boi Lee
LENDER: Bethpage Federal Credit Union - Wayne N. Grossé
BROKER: @alexleykind1, Executive Vice President – Capital Markets @cornerstone_capital
LOAN AMOUNT: $2,240,000
SF: 12,000 sf
NOTES: Borrower was able to receive $1,000,000 cash out