Shlomi Avdoo Secures $47 Million Construction Loan From Valley National Bank For Development Site In Cobble Hill

The asset involved in this transaction is a development site located at 110 Boerum Place in Cobble Hill, Brooklyn. The property is part of a 21-unit condo project, with a loan amount of $47 million secured for construction purposes.

Summary of transation details:

• Property Type: Development Site
• Transaction Amount: $47,000,000
• Lender: Valley National Bank
• Landlord: Shlomi Avdoo - Avdoo & Partners
• Loan Type: Construction

Shlomi Avdoo represents Avdoo & Partners, the landlord for this development project. This arrangement highlights the involvement of a key individual in the financing and development process for the new condo project in Brooklyn.