Ben Harlev Of Be Aviv Provides $25 Million Refinance Loan For 85 4th Avenue Development Site

The development site located at 85 4th Avenue in Park Slope, Brooklyn, features a total built square footage of 176,757 square feet. This site will host a 12-story mixed-use building with a height of 125 feet. It will consist of 188 residential units averaging 647 square feet, alongside 5,415 square feet designated for commercial use and 1,996 square feet dedicated to community facilities. Additionally, the building will include a cellar level and provide 79 enclosed parking spaces.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $25,000,000
• Lender: Ben Harlev - Be Aviv
• Landlord: Harry Einhorn
• Loan Type: Refinance

Ben Harlev from Be Aviv facilitated the refinance loan for the landlord, Harry Einhorn, in this transaction. The loan secured will support the new construction project, showcasing the collaboration between the lender and the property owner focused on developing the mixed-use building.