RW Real Estate Group Secures $24M Construction Loan From Provident Bank | 705 Franklin Avenue | Provident Bank | Development Site | Loan

Summary

Loan

NEW YORK

Development Site

The development site located at 705-711 Franklin Avenue in Crown Heights, Brooklyn, boasts a building square footage of 47,094. Provident Bank provided a $24,000,000 construction loan for this property, which is owned by Oren Sauberman and Alex Weiss of RW Real Estate Group.

Summary of transaction details:

Property Type: Development Site
Transaction Amount: $24,000,000
Address: 705-711 Franklin Avenue
Market: Crown Heights, Brooklyn
Lender: Provident Bank
Landlord: Oren Sauberman & Alex Weiss - RW Real Estate Group
Asset Type: Development Site
BSF: 47,094

RW Real Estate Group's entity Rw 705 Franklin LLC secured the $24 million construction loan from Provident Bank for a 58-unit development at 705-711 Franklin Avenue in Crown Heights, Brooklyn. Sauberman and Weiss are the visionary minds behind this development, aiming to transform the site into a thriving residential space.

Players

All
1

Lenders
1

Provident Bank

Details

Deal Summary

FINANCED

IMAGE: Oren Sauberman & Alex Weiss DATE: 02/27/2024 ADDRESS: 705-711 Franklin Avenue MARKET: Crown Heights, Brooklyn ASSET TYPE: Development Site ~ BSF: 47,094 LENDER: Provident Bank (@ProvidentBank) LANDLORD: Oren Sauberman & Alex Weiss - RW Real Estate Group LOAN AMOUNT: $24,000,000 LOAN TYPE: Construction NOTE: RW Real Estate Group's entity Rw 705 Franklin LLC secured a $24 million construction loan from Provident Bank for a 58-unit development at 705-711 Franklin Avenue in Brooklyn's Crown Heights neighborhood. Sauberman Weiss

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Address705 Franklin Avenue

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