Residential Development Group Secures $16.3M Loan For Brooklyn Multifamily With NYCB As Lender

Located at 782 New York Ave., this multifamily property in Brooklyn was involved in a recent closed transaction. The property is owned by Kamran Neman and Joseph Azizian of Residential Development Group, a vertically integrated real estate investment firm specializing in residential and mixed-use properties in the NY Metro area. With a history of developing and rehabilitating over 500 projects, Residential Development Group continues to seek new ground-up development and value-add opportunities in the Tri-state area.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $16.3M
• Market: Brooklyn

Facilitating the deal were the brokers David Oheb and Michael Neumann from Meridian Capital Group. Meridian Capital Group is a leading commercial mortgage brokerage firm and has closed $40B in financing with various lenders across different property types. The firm has extensive experience in multifamily lending and is known for its ability to add value to portfolios. For more information, contact David Oheb at [email protected] or Michael Neumann at [email protected].