Chess Builders Secures $7.2 Million Loan From Parke Bank For Office Building In Williamsburg

The property asset involved in this transaction is an office and retail building located at 55 North 9th Street in Williamsburg, Brooklyn. The asset spans a total of 13,604 square feet and has secured financing through a loan arrangement.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $7,200,000
• Lender: Vito S. Pantilione - Parke Bank
• Landlord: Cheskel Schwimmer - Chess Builders

This transaction highlights the involvement of Vito S. Pantilione from Parke Bank, who provided the financing, and Cheskel Schwimmer of Chess Builders, who facilitated the deal through Ffn9 LLC. The loan supports the continued development and management of the property situated in a prominent Brooklyn market.