Ariel Development Group Secures $13.5 Million Construction Loan For Brooklyn Development Site

The property involved is a development site located in Brooklyn, consisting of approximately 18,760 built square feet and 1,463 square feet of additional space. The transaction includes a loan amount of $13,500,000, designated for construction purposes.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $13,500,000
• Landlord: Ariel Shalom - Ariel Development Group
• Market: Brooklyn
• BSF: 18,760
• SF: 1,463
• Loan Type: Construction

Ariel Development Group, represented by Ariel Shalom, successfully closed a complex joint venture financing deal for a development project involving the strategic acquisition of approximately 5,000 square feet of air rights. The closure required detailed coordination and a creative approach to align the interests of all parties involved, showcasing the execution and vision required to navigate this complex transaction.