Bridges Development Group acquires three-story retail and commercial property in Midwood
16 July 2026
News release
16 July 2026
JLL Capital Markets arranges $31M sale and $35M financing for Kingswood Center in Brooklyn
Categories:
Authors
Linda O’Flanagan
George Shea
NEW YORK, July 16, 2026 – JLL Capital Markets announced today that it has arranged the $31 million sale of Kingswood Center, a 226,130-square-foot mixed-use commercial property located at 1630 East 15th St. in the Midwood neighborhood of Brooklyn.
JLL represented Midland Loan Services in the Real Estate Owned (REO) transaction and negotiated directly with the buyer, Michael Berfield’s Bridges Development Group. JLL also arranged $34.65 million in acquisition financing for the buyer.
Located on a full block between Kings Highway and Avenue P, Kingswood Center is a three-story retail and commercial property above a 257-space parking garage. The property is anchored by T.J. Maxx and is located less than 300 ft. from the Kings Highway subway station, providing direct access to Downtown Brooklyn and Manhattan.
The JLL Investment Sales and Advisory team representing the seller included Ethan Stanton, Michael Mazzara and Brendan Maddigan. Scott Aiese and Alex Staikos led the JLL Debt Advisory team that arranged the financing.
The financing positions the new ownership to execute its business plan, which includes investing in the property and leasing its remaining vacant space while capitalizing on the strength of the Midwood retail corridor and the asset's long-term leasing potential.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources visit JLL’s newsroom.
About JLL
JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 113,000 as of March 31, 2026. For over 200 years, clients have trusted JLL, a Fortune 500® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.