SK Development And CB Developers Secure $37.2 Million Refinance Loan From Allegiant Real Estate Capital

Beach 169th Street

$37,200,000

Building Size

—

Asset Type

Development Site

Closing

Oct 29, 2025

AI

The asset involved in the transaction is a development site located at 402 Garage Beach 169th Street in Breezy Point, Queens. The site was refinanced with a loan amounting to $37,200,000. The lender for this transaction is Allegiant Real Estate Capital, which replaced prior debt from Procida Funding.

Summary of transaction details:

Property Type: Development Site
Transaction Amount: $37,200,000
Lender: Allegiant Real Estate Capital
Landlord: Abe Shnay & Scott Shnay - SK Development & Charles Blaichman - CB Developers
Loan Type: Refinance

The key individuals in this transaction include Abe Shnay and Scott Shnay representing SK Development, alongside Charles Blaichman from CB Developers. Their collaboration enabled the refinancing process for the Breezy Point development site.

Players