737 4th Ave

Developers have secured $121 million in financing for a mixed-use project in Sunset Park, Brooklyn, amidst dwindling multifamily filings in New York. The 14-story building at 737 Fourth Avenue will comprise 187 residential units and 5,500 square feet of retail space. Canyon Partners Real Estate and JP Morgan provided $96 million in construction financing, with Tribeca Investment Group contributing a $25 million preferred equity investment. The project, initiated over six years ago, involves a joint venture including BEB Capital, Totem, Ofer Cohen, and SK Development.