2320 Cropsey Ave

Joel Landau’s Allure Group secures a $108.2 million bridge loan from Dwight Mortgage Trust for its luxury rental project at 2230 Cropsey Avenue in Brooklyn’s Bath Beach neighborhood. The 31-story, 248-unit development, slated for completion by year-end, features 29,000 square feet of retail space and various residential amenities. Developed with a 421a tax abatement, the project’s affordable housing unit count remains undisclosed. Allure acquired the property in 2015 and previously secured loans from Bank Leumi and Dwight Capital. The project sits adjacent to the King David Center for Nursing and Rehabilitation, with Allure pledging a $10 million investment in the facility.