Updated Aug 25, 2026
Anshel Fridman, Shlomo Karpen, And Norman Strulovitch Secure $72 Million Construction Loan From Valley National Bank
230 Clarkson Avenue & 234 Clarkson Avenue
$72,000,000
Units
99
Asset Type
Development Site
Closing
Aug 6, 2026
About this deal
AI
The transaction involves a development site located at 230 Clarkson Avenue & 234 Clarkson Avenue in East Flatbush, Brooklyn. The loan amount secured for the projects is $72 million, which is designated for construction purposes.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $72,000,000
- Lender: Valley National Bank
- Landlord: Anshel Fridman - Nalcorp, Shlomo Karpen & Norman Strulovitch
The individuals facilitating this transaction include Anshel Fridman of Nalcorp, alongside Shlomo Karpen and Norman Strulovitch, who collectively secured the construction loan for two 99-unit residential projects at the specified addresses.
Players
New Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
Loading comparables…
Deal FAQ
Browse New development site loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.22%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93