Mortgage Beat

$14.5 Million Construction Loan for Park Slope Apartments

JDS Development Group has obtained a $14.5 million construction loan for the completion of an apartment building in Park Slope, Brooklyn.

26034849 $14.5 Million Construction Loan for Park Slope Apartments

202 8th Street.

The 51-unit building is currently under construction and is owned by 202 8th Street LLC, an entity controlled by Michael Stern, according to city records. The loan closed in January 2012. Mission Capital Advisors advised on the transaction.

The architect on the 12-story, 50,000-square-foot project is DJ Associates. Neither JDS Development nor Michael Stern could be reached for comment.

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