Artimus Secures $91M Construction Loan For Industrial Building In Gowanus, Brooklyn

An industrial building located at 164 4th Avenue in Gowanus, Brooklyn has secured a $91 million construction loan. The property, with a total square footage of 114,431, is slated for a 140-unit residential development project led by Roee Wiczyk. The loan was obtained from JPMorgan Chase and the Community Preservation Corporation through Cpc Mortgage Company LLC.

Summary of transation details

• Property Type: Industrial
• Transaction Amount: $91,000,000
• Market: Gowanus, Brooklyn
• Built Square Feet: 114,431
• Lender: JPMorgan Chase
• Lender's Representative: Rafael E. Cestero - Community Preservation Corporation (CPC)
• Landlord: Ronen Haron
• Landlord's Representative: Artimus

An interesting note about this transaction is that Artimus, represented by Ronen Haron, secured the construction loan. The collaboration between JPMorgan Chase and the Community Preservation Corporation through Cpc Mortgage Company LLC will fund the development project led by Roee Wiczyk for the transformation of the industrial building into a residential complex.