TF Cornerstone gets loan to build multifamily project in Brooklyn

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TF Cornerstone is moving forward with its plans to build a multifamily project in Brooklyn.

The company secured a $73 million loan from M&T Bank to begin construction at the Brooklyn site, Commercial Observer reports.

TF Cornerstone paid $143 million to buy two adjacent parcels at 595 and 615 Dean St. in the Prospect Heights neighborhood from Greenland Forest City Partners, a joint venture between Greenland Group and Forest City New York.

The company plans to build two towers offering 800 apartments. The development will also include retail, parking and 72,000 square feet of open space.

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