Diamond Dev Group Secures $7.025M Construction Loan For Development Site In Ocean Hill, Brooklyn

A development site located at 258, 260 & 262 Rockaway Ave. in Ocean Hill, Brooklyn has been involved in a closed transaction. The property is a development site with a buildable square footage (BSF) of 22,000 and a capacity for 24 units. The transaction took place on June 29, 2022, as per the available date. The property was purchased by Diamond Dev Group, represented by Richard Zavlyanov.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: Not disclosed
• Address: 258, 260 & 262 Rockaway Ave., Ocean Hill, Brooklyn
• Market: Ocean Hill, Brooklyn
• Buildable Square Footage: 22,000
• Capacity: 24 units

The construction loan for this transaction was provided by First Central Savings Bank for an amount of $7,025,000. The loan agreement supports the development of the property and its conversion into residential units. Diamond Dev Group, represented by Richard Zavlyanov, acted as the landlord in this transaction.

Note: No additional information regarding the transaction is available at this time.