Valley National Bank Provides $25.7M Loan For Mixed-Use Property In Brooklyn

The mixed-use property located at 633 Marcy Ave in Brooklyn, Bedford Stuyvesant has been involved in a closed transaction. The property spans approximately 60,000 square feet and was sold for a total amount of $25,735,000.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $25,735,000
• Loan Amount: $25,735,000
• Square Footage: 60,000
• Address: 633 Marcy Ave, Brooklyn, Bedford Stuyvesant
• Market: Brooklyn, Bedford Stuyvesant
• Landlord: Zelig Weiss and Josif Weisz

The loan for this transaction was provided by Valley National Bank. The sellers were represented by GreenRock Funding, with Elya Kahn and Shlomy Franczoz acting as brokers.

It is important to note that the building is partially vacant and awaiting 421A approval.