Ponce Bank Provides $32.5M Construction Loan For Development Site At 1445 Fulton Street

The development site located at 1445 Fulton Street in Brooklyn encompasses a buildable square footage (BSF) of 78,362. This asset is associated with a construction loan amounting to $32,500,000, structured for a term of 24 months.

Summary of transation details:

• Property Type: Development Site
• Transaction Amount: $32,500,000
• Lender: Ponce Bank
• Landlord's Representatives: Leah Paskus, Pinchas Vogel & Ernest Lefkowitz - Landstone Capital Group
• Lender's Attorney: Jane Chen, Esq. - The Usinger Law Practice PLLC

Key participants in this transaction include Douglas Romero, Ioannis Kouzilos, and Elia Aguilar representing Ponce Bank. These individuals were integral to facilitating the loan agreement detailed above.