Search

Brooklyn, NY (2022)

50 PENN

Investment

  • NMTC Amount: $10,500,000
  • Total Project Cost: $10,373,755

IMPACT

  • 75 FTE jobs
  • 200 construction jobs
  • 34,000 sq. ft. of real estate

Investor

Project Description

NMTC funding will provide funds for a new “FRESH” supermarket, plus operating expenses during lease-up and working capital during rent-abatement period. This project’s financing is part of a $10.5 million capital stack needed for the build-out of the 34M sq. ft. commercial retail component of a $107 million mixed-use 100% affordable housing (LIHTC) project in East Brooklyn. + NAISC: Lessors of Residential Buildings and Dwellings + CBA: Yes-job training programs offered at the grocery store to area residents.

MAP

Address: 50 Pennsylavania Avenue, Brooklyn, NY 11207

Census Tract:

Related Projects