Valley National Bank Provides $252M Construction Loan For Mixed-Use Property In New York City

The mixed-use property located at 532 Neptune Avenue in New York City has been involved in a closed transaction. The property consists of 499 units and is owned by Aaron Polinsky of Cammeby's International, Sergey Rybak, and Andrei Shavrin of Rybak Development.

Summary of transaction details

• Property Type: Mixed-Use
• Transaction Amount: $252,000,000
• Address: 532 Neptune Avenue
• Market: New York City
• Units: 499

The loan for this transaction was provided by Valley National Bank. The lenders provided a construction loan amounting to $252,000,000.

The brokers involved in the deal were Ronnie Levine, Scott Miller, and AJ Bruno from Meridian Capital Group. They represented the parties involved in the transaction.