Dime Community Bank Provides $1.5M Loan For Industrial Property In Williamsburg

Located in the thriving neighborhood of Williamsburg in Brooklyn, this industrial property at 50 Morgan Avenue and 48 Grattan Street has recently been involved in a closed transaction. Spanning 8,250 square feet, the property offers ample space for industrial operations. The deal was brokered by Zev Feder of Meridian Capital Group, representing the parties involved. The loan amount of $1,500,000 was secured from Dime Community Bank, with Team Terrasi overseeing the transaction. The landlord, Canka Corp., led by Budin Canka, played a vital role in the deal.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $1,500,000
• Lender: Dime Community Bank - Team Terrasi
• Landlord: Canka Corp. - Budin Canka
• Broker: Zev Feder - Meridian Capital Group

With a 7-year fixed loan term, this transaction represents a significant investment opportunity in the Williamsburg market. The property's prime location and its spacious 8,250 square feet make it a desirable asset for industrial operations. The collaboration between the lender, Dime Community Bank, and the landlord, Canka Corp., indicates the confidence in the property's potential. Through the expertise of Zev Feder from Meridian Capital Group, the deal was successfully facilitated, allowing the buyer to acquire this valuable industrial property in Williamsburg.