Amir Zwickel Secures $5,675,000 Bridge Loan From Arion Fund For Multifamily Project In Brooklyn

The property asset involved in this transaction consists of two high-end two-family homes located at 33 Irving Place and 936 Pacific Street, which is situated in the Brooklyn market. The total square footage of the multifamily asset is 10,000 with a total of 4 units. The loan amount secured for this asset is $5,675,000 under a bridge loan type with a term of 12 months.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $5,675,000
• Address: 33 Irving Place & 936 Pacific Street
• Market: Brooklyn
• Square Footage: 10,000
• Units: 4
• Lender: Arion Fund
• Loan Type: Bridge
• Loan Terms: 12 Months
• Landlord: Amir Zwickel

The key individuals involved in the deal are Amit Stern and Eli Ben-Meir, who represent Arion Fund as the lenders in this transaction. This 12-month inventory loan was structured to pay off the existing construction lender, finance remaining project costs, and provide an interest reserve, reflecting Arion Fund's commitment to offering tailored financing solutions in the multifamily sector.