Israel Elbogen Secures $3.875 Million Bridge Loan From Arion Fund For Multifamily Asset In Brooklyn

The property involved in this transaction consists of a multifamily asset located at 869 Thomas S. Boyland Street & 913 Thomas S. Boyland Street in Brooklyn. The total square footage of the property is 48,000 and it comprises 51 units. The loan amount secured for this asset is $3,875,000, classified as a bridge loan.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $3,875,000
• Square Footage: 48,000
• Units: 51
• Address: 869 Thomas S. Boyland Street & 913 Thomas S. Boyland Street
• Market: Brooklyn
• Lender: Arion Fund
• Landlord: Israel Elbogen
• Brokers: David Bollag & James Darling - Meridian Capital Group
• Loan Type: Bridge

The transaction was facilitated by brokers David Bollag and James Darling, who represent the landlord, Israel Elbogen, in securing the financing from Arion Fund. This partnership underscores the commitment of Arion Fund to support multifamily investments through customized loan solutions.