- Co-founded in 2022 by Jeremy Levart and Mark Meisner, Oak Funding is a New Jersey-based real estate lending platform;
- The company will use the facility to support the development of a new Class A multifamily scheme in Downtown Brooklyn;
- The project will deliver 53 apartments, including affordable housing, alongside ground-floor retail space;
- Downtown Brooklyn continues to benefit from strong rental demand, excellent transport connectivity, and limited future housing supply, underpinning the long-term investment case.
NYC, US, 13th July, 2026; OakNorth, the digital bank for entrepreneurs, by entrepreneurs, has provided note-on-note financing to returning customer and New Jersey-based real estate lending platform, Oak Funding.
Founded in 2022 by Jeremy Levart and Mark Meisner, Oak Funding specializes in providing debt and equity financing solutions across the U.S. commercial real estate market, with a focus on supporting experienced sponsors delivering high-quality development projects.
The $25m loan will support the ground-up development of an 11-storey, Class A multifamily building at 673 Fulton Street in Downtown Brooklyn, comprising 53 apartments, including 20% affordable housing, alongside ground-floor retail space. The transaction is secured against both the development site and an adjacent fully let retail property, providing additional income and collateral during the construction period. Located just two blocks from DeKalb Avenue subway station, the scheme benefits from excellent connectivity to Manhattan and sits within one of New York City’s strongest multifamily submarkets.
Jeremy Levart, Co-Founder of Oak Funding, commented on the transaction: “Max and the wider OakNorth team have once again proven to be a responsive and thoughtful partner, bringing both credit expertise and practical flexibility to this transaction. This development exemplifies our mission of funding high-quality, community-focused residential projects, and we’re excited to deliver a vibrant new asset in Downtown Brooklyn with a trusted lending partner at our side.”
Max Saidman, Managing Director of Debt Finance at OakNorth, added: “We’re pleased to support Oak Funding on another well-structured residential development opportunity in New York. Downtown Brooklyn continues to demonstrate strong long-term fundamentals, driven by excellent transport links, sustained rental demand and a constrained future supply pipeline. Combined with an experienced sponsorship team and the additional security provided by the adjacent income-producing retail asset, this transaction reflects exactly the type of relationship-led lending we look to support as we continue growing our U.S. real estate portfolio.”
ENDS
Notes to editors
About OakNorth
Launched in September 2015, OakNorth is the bank for entrepreneurs, by entrepreneurs. It was founded to address the persistent funding gap facing lower mid-market businesses – a segment that accounts for a significant share of economic output yet remains underserved by traditional banks.
To date, OakNorth has provided over $22bn in lending to thousands of entrepreneur-led businesses across the UK and US, supporting the creation of more than 70,000 jobs and generating more than £40bn in economic value. Throughout multiple economic cycles, the bank has maintained a highly disciplined approach to credit, delivering performance metrics that place it among the top 1% of commercial banks globally.
It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Visit www.oaknorth.co.uk for more information.