Valley National Bank Provides $86M Acquisition Loan For Development Site On Bedford Ave. In Brooklyn

Located at 2360 Bedford Ave in Brooklyn, this development site is the focus of a recent closed transaction. The property, with a buildable square footage (BSF) of 1,100,000, has been acquired by an undisclosed buyer.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $86,000,000
• Lender: Valley National Bank - Jeff Puchin
• Landlord: David Bistricer
• Brokers: Leah Paskus & Pinchas Vogel - Landstone Capital Group

The acquisition was financed by a loan provided by Valley National Bank, with Jeff Puchin representing the lender. The loan amount totaled $86,000,000. The property's landlord, David Bistricer, facilitated the transaction. Leah Paskus and Pinchas Vogel, from Landstone Capital Group, acted as brokers in the deal.