Valley National Bank Provides $135M Construction Loan For Multifamily Property In Dumbo

The multifamily property located at 218 Front Street in Dumbo has undergone a recent transaction. Spanning a total of 197,000 square feet, the property consists of 218 units. The deal involved a construction loan with Valley National Bank, facilitated by Jeff Puchin. The loan amount for this transaction is $135,000,000.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $135,000,000
• Address: 218 Front Street
• Market: Dumbo
• Square Footage: 197,000
• Number of Units: 218

In addition to Valley National Bank's involvement as the lender, Cheskel Schwimmer is the landlord of the property. Leah Paskus and Pinchas Vogel from Landstone Capital Group served as the brokers in this transaction.