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Diamond Development Group Acquires 28-Unit Condo Building In Red Hook, Brooklyn For $19.25M

185 Conover Street
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This Development Site property located in NY received a loan of $19,250,000 over 4 years ago. The broker of the deal was Eric Gleitman

Robert Schwartz, Eric Gleitman, and Lee Cohen collaborated on the acquisition and development of a new 28-unit condo building located at 185 Conover Street in the Red Hook neighborhood of Brooklyn. The property boasts a total building size of 31,800 square feet and includes 21 parking spaces. The deal was finalized on December 16, 2019.

Summary of transaction details

  • Property Type: Condo building
  • Transaction Amount: $19,250,000
  • Lender: S3 Capital
  • Loan Type: Acquisition and development
  • Landlord: Diamond Development Group - Lee Cohen
  • Broker: Mercury Capital Markets - Eric Gleitman

Diamond Development Group, led by Lee Cohen, acted as the landlord in this transaction. The brokerage firm Mercury Capital Markets, represented by Eric Gleitman, played a pivotal role in facilitating the deal between the parties involved in the acquisition and development of the condo building at 185 Conover Street in Red Hook, Brooklyn.

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Deals
  • Location
    185 Conover St, Brooklyn, NY 11231, USA185 Conover St, Brooklyn, NY 11231, USA
  • Loan Value
    $19,250,000$19,250,000
  • Asset Type
    Development SiteDevelopment Site
  • Parties
    1 Broker, 1 Agency1 Broker, 1 Agency

Agent

Eric Gleitman

Eric Gleitman

Deals28
Financed$122.8M

Agency

Mercury Capital Markets

Mercury Capital Markets

Agency
Deals29
Volume$134.3M

Deal Summary

IMAGE: Robert Schwartz, Eric Gleitman & Lee Cohen ADDRESS: 185 Conover Street MARKET: Red Hook, Brooklyn DATE: 12/16/2019 LENDER: S3 Capital LOAN TYPE: Acquisition & development of a new 28-unit condo building with 21 parking spaces LOAN AMOUNT: $19,250,000 BSF: 31,800 LANDLORD: Diamond Development Group – Lee Cohen BROKER: Mercury Capital Markets – Eric Gleitman […]

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185 Conover Street

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