Elie Pariente Of EMP Capital Group Secures $44.5 Million Loan From Valley National Bank

The property asset involved in this transaction is a development site located at 918 Atlantic Avenue in Crown Heights, Brooklyn. The asset encompasses a total square footage of 74,704 and is intended for a residential project consisting of 99 units. The loan amount secured for this project is $44,500,000, provided by Valley National Bank, and is categorized as a construction loan.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $44,500,000
• Address: 918 Atlantic Avenue
• Market: Crown Heights, Brooklyn
• Lender: Valley National Bank
• Landlord: Elie Pariente - EMP Capital Group
• Previous Loan Amount: $4,700,000 from Popular Bank

Key individuals and companies in this transaction include Elie Pariente representing EMP Capital Group, who is the landlord for the development site. The financing was arranged through Valley National Bank, marking a significant step in the development of the planned residential project.