Delshah Capital Secures $60.5 Million Loan From Prospect Ridge Advisors For Multifamily Asset In Williamsburg

The property involved in this transaction consists of two addresses, 227 Grand Street and 456 Grand Street, located in Williamsburg, Brooklyn. It is a multifamily asset with a total square footage of 95,416 and comprises 93 units. The transaction includes a loan amount of $60,500,000 for acquisition purposes.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $60,500,000
• Addresses: 227 Grand Street & 456 Grand Street
• Market: Williamsburg, Brooklyn
• Asset Square Footage: 95,416
• Units: 93
• Lender: Prospect Ridge Advisors
• Landlord: Delshah Capital - Michael Shah
• Brokers: Michael Zaremski & Clayton Ross - JLL
• Loan Type: Acquisition

The key individuals involved in this transaction are Michael Zaremski and Clayton Ross, representing Delshah Capital, with Michael Shah as the landlord. The financing for this acquisition was facilitated by Prospect Ridge Advisors, underscoring the collaboration of multiple parties in this deal.