Cheskel Schwimmer Secures $95 Million Construction Loan From Valley National Bank For Development Site

The asset involved in this transaction is a development site located at 622 11th Avenue in New York City. The property is associated with a construction loan amounting to $95,000,000.00.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $95,000,000.00
• Lender: Valley National Bank
• Landlord: Cheskel Schwimmer
• Loan Type: Construction
• Loan Date: 03/19/2025
• Market: New York City

This transaction involves key individuals including Cheskel Schwimmer, who serves as the landlord for the property, and Valley National Bank, which is the lender providing the construction loan. Their involvement highlights the financial dynamics requisite for developing the asset.