Bingo Wholesale Secures $38.1M Loan From Valley National Bank For Bedford-Stuyvesant Properties

The transaction involved industrial properties located at 39 Walworth Street and 18 Warsoff Place in the Bedford Stuyvesant area of Brooklyn. The assets, comprising a total of 107,663 square feet, include a significant amount of buildable area totaling 242,886 square feet. A loan of $38.1 million was secured for these properties.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $38,100,000
• Address: 39 Walworth Street & 18 Warsoff Place
• Market: Bedford Stuyvesant, Brooklyn
• Lender: Valley National Bank
• Landlord: Bingo Wholesale

Bingo Wholesale, represented by Norworth Holdings LLC, facilitated the loan arrangement through Valley National Bank. This deal includes multiple properties within the same market, indicating a strategic investment decision by the landlord.