David Bistricer Of Clipper Equity Secures $20M Loan From Valley National Bank For Flatbush Multifamily

The asset involved in this transaction is a multifamily residential property located at 2201 Beverley Road, Flatbush, Brooklyn. The total square footage of the building is 239,709, and it consists of 296 residential units. The property is part of the financial arrangement involving a loan amounting to $20,000,000, which is in addition to an existing loan of $105,000,000 from Valley National Bank, bringing the total financing to $125,000,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $20,000,000
• Address: 2201 Beverley Road
• Market: Flatbush, Brooklyn
• Square Footage: 239,709
• Lender: Valley National Bank
• Landlord: David Bistricer - Clipper Equity

The key individuals involved in this transaction include David Bistricer, who represents Clipper Equity in this deal. The financial backing for the property is being provided by Valley National Bank, which plays a significant role in the funding of this multifamily development.