Parkview Financial Provides $92M Loan For Construction Of Mixed-Use Project In Midwood, Brooklyn | 1508 Coney Island Avenue | Parkview Financial | Elliott Kunstlinger | Mixed-use | Loan

Summary

Loan

NEW YORK

Mixed-use

215,379 sqft

Triangle 613, LLC has secured a $92 million construction loan from Parkview Financial for the development of a Class A office and retail project in Midwood, Brooklyn. The property, located at 1508 Coney Island Avenue, spans a total of 215,379 square feet on a .78-acre lot. The development is currently 35% underway and is expected to be completed in October 2023.

Summary of transaction details

Property Type: Mixed-use
Transaction Amount: $92,000,000
Address: 1508 Coney Island Avenue, Midwood, Brooklyn
Market: Midwood, Brooklyn
Loan Type: Construction

In this deal, Triangle 613, LLC has been represented by Elliott Kunstlinger from Meridian Capital Group. Parkview Financial, led by Paul Rahimian, provided the construction loan for the project. The landlord of the property is Triangle 613 LLC.

Players

All
3

Agents
1
Agencies
1
Lenders
1

Elliott Kunstlinger

Vice President

Meridian Capital Group

Parkview Financial

Details

Deal Summary

FINANCED

IMAGE: Elliott Kunstlinger & Paul Rahimian DATE: 04/28/2022 ADDRESS: 1508 Coney Island Avenue MARKET: Midwood, Brooklyn ASSET TYPE: Mixed-use ~ SF: 215,379 LENDER: Parkview Financial (@Parkview.Financial) - Paul Rahimian LANDLORD: Triangle 613 LLC BROKER: Elliott Kunstlinger (@Elliott_Kunstlinger_) - Meridian Capital Group (@Meridian.Capital.Group) LOAN AMOUNT: $92,000,000 LOAN TYPE: Construction NOTE FROM @Parkview.Financial: Parkview Financial announced today it has provided a $92 million construction loan to Triangle 613, LLC for the development of a Class A office & retail project located at 1498-1538 Coney Island Avenue in Brooklyn, NY. The 10-story building will total 215,379 gross square feet (sf) & is situated on .78-acres. Parkview’s loan was originated mid-construction & the development is approximately 35% underway with anticipated completion in October 2023.

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Address1508 Coney Island Avenue

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