Ed Ostad & Michael Ostad Secure $98 Million Loan From Derby Copeland For Mixed-Use Acquisition In Brooklyn

The transaction involves a mixed-use property asset located at multiple addresses in Brooklyn, specifically 192 Flatbush Avenue through 480 Bergen Street, encompassing a total square footage of 75,000. This acquisition was supported by a loan amount of $98,000,000 with terms set for 3 years.

Summary of transation details:

• Property Type: Mixed-use
• Transaction Amount: $98,000,000
• Addresses: 192 Flatbush Avenue, 202 Flatbush Avenue, 204 Flatbush Avenue, 206 Flatbush Avenue, 212 Flatbush Avenue, 214 Flatbush Avenue, 216 Flatbush Avenue, 218 Flatbush Avenue, 234 Flatbush Avenue, 241 Flatbush Avenue, 243 Flatbush Avenue, 266 Flatbush Avenue, 452 Dean Street, 458 Bergen Street, 462 Bergen Street, 464 Bergen Street, 466 Bergen Street, 468 Bergen Street, 470 Bergen Street, 472 Bergen Street, 474 Bergen Street, 476 Bergen Street, 478 Bergen Street, and 480 Bergen Street
• Lender: Derby Copeland
• Landlords: Ed Ostad & Michael Ostad
• Brokers: Shamir Seidman, Judah Hammer & Jeff Feldman - CBRE
• Loan Type: Acquisition
• Loan Terms: 3 years

The stakeholders in this transaction include Ed Ostad and Michael Ostad serving as the landlords. The deal was brokered by Shamir Seidman, Judah Hammer, and Jeff Feldman, all representing CBRE, highlighting their involvement in facilitating this substantial property acquisition.