Avdoo & Partners Development Secures $105M Construction Loan For Boerum Hill Condo | 323 Bergen Street | Condo | Loan

Summary

Loan

NEW YORK

Condo

243,000 sqft

Manhattan developer Avdoo & Partners Development has secured a $105 million senior construction loan from Valley National Bank for its 243,000-square-foot condominium project located at 323 Bergen Street in Brooklyn's Boerum Hill neighborhood.

Summary of transaction details

Property Type: Condo
Transaction Amount: $105,000,000
Address: 323 Bergen Street
Market: Boerum Hill, Brooklyn
Landlord: Shlomi Avdoo - Avdoo & Partners Development

This loan will be used for the construction of the condo project developed by Avdoo & Partners Development. The project is situated in the vibrant Boerum Hill neighborhood of Brooklyn. Valley National Bank has provided the financial support needed to bring this 243,000-square-foot development to completion.

Details

Deal Summary

FINANCED

IMAGE: Shlomi Avdoo DATE: 12/26/2023 ADDRESS: 323 Bergen Street MARKET: Boerum Hill, Brooklyn ASSET TYPE: Condo ~ SF: 243,000 LENDER: Valley National Bank LANDLORD: Shlomi Avdoo - Avdoo & Partners Development (@Avdoo_Partners) LOAN AMOUNT: $105,000,000 LOAN TYPE: Construction NOTE: Manhattan developer Avdoo & Partners Development has secured a $105 million senior construction loan from Valley National Bank for its 243,000-square-foot condominium project in Brooklyn's Boerum Hill neighborhood.

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Address323 Bergen Street

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