FINANCED
Barings & Pacific Western Bank Provides $63M Loan For Development Site In Bedford-Stuyvesant, Brooklyn
800 Willoughby Avenue
Development Site
185,000 SF
185,000 SF
Financed 1 year ago
Summary
Loan
NEW YORK
Development Site
185,000 sqft
barings-4626a10b-91b9-4404-b096-d78fc90a0c26''>Barings and Pacific Western Bank have provided a loan of $63,000,000 for a development site in Bedford-Stuyvesant, Brooklyn. The property, located at 800 Willoughby Avenue, is a dev site with a buildable square footage (BSF) of 185,000. The loan was secured by Property Resource Corp. and Avenue Realty Capital, who act as the landlords of the property.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $63,000,000
- Market: Bedford-Stuyvesant, Brooklyn
- Address: 800 Willoughby Avenue
The deal was facilitated by Newmark brokers Dustin Stolly, Jordy Roeschlaub, Chris Kramer, Daniel Fromm, and Nick Scribani. They represented the parties involved in the transaction, including the lenders Barings and Pacific Western Bank, as well as the landlords Property Resource Corp. and Avenue Realty Capital.
Players
All
7
Agents
5
Agencies
1
Lenders
1
Details
FINANCED
IMAGE: Matthew Wagner, Mike Freno, Jordy Roeschlaub, Chris Kramer, Dustin Stolly, Daniel Fromm & Nick Scribani
DATE: 02/18/2021
ADDRESS: 800 Willoughby Avenue
MARKET: Bedford-Stuyvesant, Brooklyn
ASSET TYPE: Dev Site ~ BSF: 185,000
LENDER: Barings & Pacific Western Bank
LANDLORD: Property Resource Corp. & Avenue Realty Capital
BROKERS: Dustin Stolly, Jordy Roeschlaub, Chris Kramer, Daniel Fromm & Nick Scribani @Newmark
LOAN AMOUNT: $63,000,000View on map
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Address800 Willoughby Avenue
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