Bushburg Properties Secures $16.5M Refinance Loan For East Williamsburg Multifamily Properties | 1087 Flushing Avenue & 125 Knickerbocker Avenue | Cross River Bank | MultiFamily | Loan

Summary

Loan

NEW YORK

MultiFamily

199,064 sqft

Bushburg Properties has secured a refinance loan valued at $16.5 million from Cross River Bank for two properties in East Williamsburg, Brooklyn. The properties include a 45-unit residential elevator building at 1087 Flushing Avenue and a 15-unit property at 125 Knickerbocker Avenue, totaling 99,532 square feet of built space.

Summary of transaction details

Property Type: Multifamily
Transaction Amount: $16,500,000
Loan Type: Refinance
Market: East Williamsburg, Brooklyn
Address: 1087 Flushing Avenue & 125 Knickerbocker Avenue

The loan for the properties was provided by Cross River Bank. The lender's representative for this transaction is Allan J. Weiss. The landlord, Bushburg Properties, was represented by Abraham J. Hoffman.

Players

All
1

Lenders
1

Cross River Bank

Details

Deal Summary

FINANCED

IMAGE: 06/28/2023 ADDRESS: 1087 Flushing Avenue & 125 Knickerbocker Avenue MARKET: East Williamsburg, Brooklyn ASSET TYPE: Multifamily ~ SF: 99,532 LENDER: Cross River Bank (@CrossRiver_) - Allan J. Weiss LANDLORD: Bushburg Properties (@BushburgProperties) - Abraham J. Hoffman LOAN AMOUNT: $16,500,000 LOAN TYPE: Refinance NOTE: Bushburg Properties has secured a refinance loan valued at $16.5 million from Cross River Bank for two properties in East Williamsburg, Brooklyn. The properties include a 45-unit residential elevator building at 1087 Flushing Avenue and a 15-unit property at 125 Knickerbocker Avenue, totaling 99,532 square feet of built space.

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Address1087 Flushing Avenue & 125 Knickerbocker Avenue

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