Abe Garbo & Sara Rottenberg Secure $18 Million Construction Loan From Shawn Safdie At 558 Saint Johns Place

The property asset involved in this transaction is a development site located at 558 Saint Johns Place in Brooklyn, measuring 6,301 square feet with a building square footage of 38,385. The purchase price was all cash for $7,600,000, equating to $200 per square foot. A construction loan of $18,000,000 has been secured, with construction set to begin next week.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $18,000,000
• Address: 558 Saint Johns Place
• Market: Brooklyn
• Landlord: Abe Garbo & Sara Rottenberg
• Lender: Shawn Safdie - S3 Capital

Abe Garbo and Sara Rottenberg are the landlords associated with this transaction. Shawn Safdie from S3 Capital is the lender facilitating the construction loan. The landlords expressed their appreciation towards Shawn with a note stating, "We love you Shawn!!!!"