David Bistricer Secures $95M Construction Loan From Bank Hapoalim For Brooklyn Project

The development site located at 2359 Bedford Avenue in Flatbush, Brooklyn, boasting a buildable square footage of 148,000 square feet, was involved in a recent transaction. David Bistricer of Clipper Equity secured a $95 million construction loan from Bank Hapoalim and BHI for a 226-unit project on this property.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $95,000,000
• Address: 2359 Bedford Avenue
• Market: Flatbush, Brooklyn
• Lender: Bank Hapoalim (BHI)
• Landlord: David Bistricer - Clipper Equity
• Loan Type: Construction

The financing for the 226-unit project at 2359 Bedford Avenue in Flatbush, Brooklyn, was provided by Bank Hapoalim and BHI. This loan secured by David Bistricer's Clipper Equity is part of a larger redevelopment initiative, transforming the former Sears department store site into a modern residential complex.