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Popular Bank Provides $22.5M Loan For Development Site In Williamsburg, Brooklyn

526 Union Avenue
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This Development Site property located in NY was sold for $22,500,000 about 4 years ago. The broker of the deal was Chaim Greenfeld

Located in Williamsburg, Brooklyn, a development site at 526 Union Avenue has recently closed in a transaction. The property boasts a total square footage of 40,135 and consists of 43 units. The deal was facilitated by Chaim Greenfeld from Eastern Union, representing the buyer or seller in the transaction. Popular Bank provided a loan amount of $22,500,000 for this transaction, ensuring smooth financing for the deal.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $22,500,000
  • BSF: 40,135
  • Units: 43

Afshin Dilmanian acted as the landlord for this transaction, while Chaim Greenfeld from Eastern Union represented one of the parties involved. These key individuals and institutions played crucial roles in the successful completion of the deal, contributing to the growth and development of the Williamsburg property market.

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Deals
  • Location
    526 Union Ave, Brooklyn, NY 11211, USA526 Union Ave, Brooklyn, NY 11211, USA
  • Sale Price
    $22,500,000$22,500,000
    $56 PPSF$56 PPSF
  • Area
    401,350 SF401,350 SF
  • Asset Type
    Development SiteDevelopment Site
  • Parties
    1 Broker, 1 Agency1 Broker, 1 Agency

Agent

Chaim Greenfeld

Chaim Greenfeld

Deals5
Financed$42.2M

Agency

Eastdil Secured

Eastdil Secured

Agency
Deals187
Volume$58.2B

Deal Summary

IMAGE: Chaim Greenfeld DATE: 01/07/2020 ADDRESS: 526 Union Avenue MARKET: Williamsburg, Brooklyn ASSET TYPE: Development Site LENDER: Popular Bank LANDLORD: Afshin Dilmanian BROKER: Chaim Greenfeld – Eastern Union LOAN AMOUNT: $22,500,000 BSF: 40,135 UNITS: 43

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526 Union Avenue

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