Joel Schwartz Refinances Development Site With $13.3M Loan In Williamsburg, Brooklyn | 45 Borinquen Place | Starwood Capital Group | Development Site | Loan

Summary

Loan

NEW YORK

Development Site

17,650 sqft

The new construction property at 45-55 Borinquen Place in Williamsburg, Brooklyn, spans 17,650 square feet and consists of 16 residential units. Joel Schwartz, represented by the entity 55 Borinquen Place LLC, secured a $13.3 million refinance loan from lender Grace Y. Chian of Starwood Mortgage Capital for this development site.

Summary of transaction details:

Property Type: Development Site
Transaction Amount: $13,300,000
Address: 45-55 Borinquen Place
Market: Williamsburg, Brooklyn
Lender: Grace Y. Chian - Starwood Mortgage Capital
Landlord: Joel Schwartz

Starwood Mortgage Capital, through its entity Starwood Mortgage Capital LLC, provided the refinance loan to Joel Schwartz. This transaction facilitated the financing needed for the development of the 16 residential units within the property located in Williamsburg, Brooklyn.

Players

All
1

Lenders
1

Starwood Capital Group

Details

Deal Summary

FINANCED

IMAGE: 02/08/2024 ADDRESS: 45-55 Borinquen Place MARKET: Williamsburg, Brooklyn ASSET TYPE: Development Site ~ SF: 17,650 LENDER: Grace Y. Chian - Starwood Mortgage Capital LANDLORD: Joel Schwartz LOAN AMOUNT: $13,300,000 LOAN TYPE: Refinance NOTE: Joel Schwartz, represented by the entity 55 Borinquen Place LLC, secured a refinance loan valued at $13.3 million from lender Starwood Mortgage Capital, through the entity Starwood Mortgage Capital LLC, for a new construction property comprising 16 residential units at 45-55 Borinquen Place in Williamsburg, Brooklyn.

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Address45 Borinquen Place

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