Minority-owned Standard REI Closes First NYC Equity Investment in Bushwick

Commercial Observer’s Emily Fu reports on Standard Real Estate Investments’ close of a $30 million equity investment in a mixed-use development project at 1333 Broadway in Brooklyn’s Bushwick neighborhood, marking SREI’s first foray into New York City’s real estate market. SREI will work with Ekstein Tolbert Development to build a 107-unit, 20-story mixed-use building on the 30,766-square-foot site.

“The acquisition of the site and development of a mixed-use property with an attainable residential component as a sizable portion of the project fits seamlessly with our investment philosophy,” said Jerome Nichols, co-founder and president of Standard REI.