Abraham Posner Secures $50 Million Construction Loan From Ponce Bank For Brooklyn Multifamily Project

The property involved in this transaction consists of two seven-story multifamily buildings located at 937 East 108th Street and 951 East 108th Street in Brooklyn. The total gross square footage of the asset is 143,083, with a total of 198 units. The loan amount secured for this construction project is $50,000,000.

Summary of transation details:

• Property Type: MultiFamily
• Transaction Amount: $50,000,000
• Lender: Ponce Bank
• Lender Representatives: Elia Agiluar, Doug Romero & Yanni Kouzilos
• Landlord: Abraham Posner
• Landlord's Representatives: Morris Betesh, Israel Mermelstein & Louis Halperin - Arrow Real Estate Advisors

The deal features involvement from Ponce Bank, which is represented by Elia Agiluar, Doug Romero, and Yanni Kouzilos. The landlord for the property is Abraham Posner, and the representatives for the landlord from Arrow Real Estate Advisors include Morris Betesh, Israel Mermelstein, and Louis Halperin.