Valley National Bank Provides $28.1 Million Construction Loan For 218 Madison Avenue Development Site

The asset involved in this transaction is a development site located at 218 Madison Avenue in the Grand Central market of Manhattan. The total square footage of the property is 41,000, and it has secured a construction loan amounting to $28,100,000.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $28,100,000
• Market: Grand Central, Manhattan
• Lender: Valley National Bank
• Landlord: Sergey Rybak, Mitch Chaloub & Jason Reznik
• Brokerage: Rael Gervis & Scott Miller - Meridian Capital Group

The key individuals involved in this transaction include Sergey Rybak, Mitch Chaloub, and Jason Reznik as landlords, while Rael Gervis and Scott Miller represented them through the brokerage Meridian Capital Group.