Joel Schwartz Refinances Development Site In East New York For $32.4M

Development Site located at 2700 Atlantic Avenue in East New York, Brooklyn, with a total square footage of 158,730, is the focal point of a recent transaction involving a refinance loan.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $32,400,000
• Address: 2700 Atlantic Avenue
• Market: East New York, Brooklyn
• Lender: Haim Dadi - Golden Bridge Funding
• Landlord: Joel Schwartz
• Loan Type: Refinance
• Loan Date: 03/01/2024
• Asset BSF: 158,730

Joel Schwartz, operating under 2700 Atlantic Ny LLC, successfully secures a $32.4 million refinance loan from Golden Bridge Funding for the development project on Atlantic Avenue. The loan was facilitated by Golden Bridge R2 LLC, marking a significant financial step in the completion of a 227-unit residential building within the East New York market.