Lay Assets Acquires Development Site In Midwood, Brooklyn For $12M With $12M Loan From Valley National Bank

Lay Assets, represented by Eddie Yair, has acquired a multi-parcel development site located at 1206 Ocean Parkway in Midwood, Brooklyn. The property was purchased for a total of $12 million through the entity 1210 Ocean Parkway LLC. The transaction was supported by a loan from Valley National Bank for the same amount.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $12,000,000
• Address: 1206 Ocean Parkway
• Market: Midwood, Brooklyn
• Asset Type: Development Site
• Total Buildable Square Footage: 65,883
• Built Space: 6,440 square feet

The loan for this acquisition was provided by Valley National Bank, with Harris Schornstein representing the bank in the transaction. Lay Assets, led by Eddie Yair, acted as the landlord in this deal.