Affinius Capital announced that it has originated a $200 million construction loan to finance the development of 200 Douglass, a class A multifamily property. Located in the Gowanus neighborhood of Brooklyn, N.Y., the 21-story development will feature 276 units and 20,000 square feet of ground-floor retail. The loan was made to Midwood Investment & Development, a leading New York-based developer, owner and operator led by John Usdan.
“200 Douglass represents an exceptional multifamily investment in Brooklyn's thriving Gowanus neighborhood, which continues to evolve from its industrial roots into a premier residential destination,” said David Greenburg, managing director and co-head of debt origination at Affinius Capital. “This development will deliver much-needed housing and ground-floor retail to the community. This transaction exemplifies our strategy of partnering with superior sponsors such as Midwood to finance institutional-quality multifamily assets in high-
