Clipper Realty Secures $20M Loan From Valley National Bank For Crown Heights Multifamily

Clipper Realty has secured $20 million in financing from Valley National Bank for its multifamily apartment building located at 998-1010 Pacific St. in Brooklyn's Crown Heights neighborhood. The property is a multifamily asset and is situated in the vibrant market of Crown Heights, Brooklyn. The loan amount for the transaction is $20,000,000, provided by Valley National Bank.

Summary of transaction details

• Property Type: Multifamily
• Loan Amount: $20,000,000
• Market: Crown Heights, Brooklyn
• Address: 998-1010 Pacific Street
• Lender: Valley National Bank
• Landlord: Clipper Realty - David Bistricer

The financing for this multifamily apartment building was sourced from Valley National Bank. Clipper Realty, with David Bistricer as its landlord, successfully secured the $20 million loan amount to support its ownership and management of the property located at 998-1010 Pacific St. in the Crown Heights neighborhood. This transaction highlights the collaboration between Clipper Realty and Valley National Bank in funding real estate projects in the Brooklyn market.