Financing · Brownsville
1546 East New York Avenue lands $50.3M
Webster Bank lent to the owner of a 95-unit affordable and supportive housing development in Brownsville that replaces a vacant police precinct and includes a ground-floor health clinic.
- Amount
- $50.3M
- Type
- Financing
- Date
- Dec. 2025
1546 East New York Avenue, Brooklyn, NY
Recorded in NYC property records.
- Lender
- Webster Bank, National Association
- Borrower
- 1546 ENY Owner LLC
- Borrower
- 1546 ENY Housing Development Fund Company Inc.
- Three mortgages from one lender, all dated the same day on the same two lots.
- The state release describes a 95-unit development with 57 supportive apartments.
- The project includes a ground-floor community health care facility.
- The state release lists the developer as Xenolith Partners with Family Services Network of New York.
Overview
Webster Bank, National Association is the lender on three mortgages dated Dec. 19, 2025 on 1546 East New York Avenue, according to city property records. The borrowers are 1546 ENY Owner LLC and 1546 ENY Housing Development Fund Company Inc. The mortgages are recorded at $27,211,415, $19,537,620 and $3,507,063.
The loans cover two Brooklyn tax lots, Block 3489, Lots 121 and 130.
New York State Homes and Community Renewal announced in April 2026 the start of construction on a 95-unit housing development in Brownsville, including 57 supportive apartments, developed by Xenolith Partners, LLC with Family Services Network of New York, Inc. The state's release thanks Webster Bank for its partnership on the project. It describes a nearly 6,000-square-foot ground-floor community health care facility and says the project will replace a vacant police precinct.
The recorded loans give the financing structure behind an affordable and supportive housing project on a former police precinct site in Brownsville, which the state says has begun construction.
Parties Involved 4 recorded
Basis
Named as Party 2 on the ACRIS mortgages.
Basis
Named as Party 1 on the ACRIS mortgages.
Basis
Named as Party 1 on the ACRIS mortgages.
Basis
Named as developer in the HCR release.
Counts and combined values are computed from Hush Street’s own published Deal records only. “Combined” is the total value of the transactions a party appears on, not capital deployed by that party, and two parties on the same transaction each reflect its full amount. Not a career or market total.
Marks shown are Hush Street editorial monograms, generated from each party’s recorded name — not official company logos.
Property & Project
Sources & Recordsverification, citations & data notes
- ACRIS mortgage — NYC ACRIS
- ACRIS mortgage — NYC ACRIS
- ACRIS mortgage — NYC ACRIS
- Governor Hochul announces start of construction — NY HCR