Shlomo Karpen Secures $14M Refinance From Newmark For Bushwick Multifamily And Industrial Properties

The transaction involves two properties located at 11 Arion Place and 9 Arion Place, situated in the Bushwick market of Brooklyn. The assets consist of a multifamily unit and an industrial building, totaling a combined square footage of 54,159. Shlomo Karpen secured a refinancing loan amounting to $14,000,000 for these properties.

Summary of transaction details:

• Property Type: Multifamily & Industrial
• Transaction Amount: $14,000,000
• Address: 11 Arion Place & 9 Arion Place
• Market: Bushwick, Brooklyn
• Lender: Newmark
• Landlord: Shlomo Karpen
• Loan Type: Refinance

Shlomo Karpen, through Arion Enterprises LLC, engaged with Newmark to facilitate the refinance of the two properties. This loan arrangement emphasizes the ongoing investment in the Bushwick area and highlights the strategic financial decisions made by Karpen regarding these assets.