Congregation Machne Chaim Secures $20 Million Loan From Webster Bank For Brooklyn Facility

The property asset involved in this transaction is a specialty building located at 6101 16th Avenue in Bensonhurst, Brooklyn. This asset spans 61,148 square feet and features a loan amount of $20 million secured by Congregation Machne Chaim’s Bais Sarah Educational Center for Girls, which replaced prior debt from Bank of Princeton.

Summary of transaction details:

• Property Type: Special Purpose
• Transaction Amount: $20,000,000
• Address: 6101 16th Avenue
• Market: Brooklyn
• Lender: Webster Bank
• Landlord: Congregation Machne Chaim

This transaction involves key individuals and companies, with Webster Bank acting as the lender for the loan arrangement, while Congregation Machne Chaim serves as the landlord associated with the property. The deal marks a significant financial commitment by the Congregation in the Brooklyn market.