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Sheppard Mullin Represents M&T Bank in $155 Million Loan for Mixed-Use Development in Brooklyn


The firm represented M&T Bank in connection with a $155 million construction loan to The Brodsky Organization, secured by the property located at 499 President Street, a mixed-use residential building in Brooklyn’s Gowanus neighborhood. The Brodsky Organization will lead the development in partnership with Avery Hall Investments, and when completed the project will include 350 market-rate and affordable rental apartments, a full suite of residential amenities and 20,000 square feet of ground floor retail. 

The Sheppard Mullin team was led by New York Real Estate partners Scott Stern and Richard Fries and special counsel Jennifer Warheit.

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