Brooklyn Condo Lands $26M – Robert Khodadadian
Situated at 630 Grand Avenue in Prospect Heights, the residential property will feature 32 luxury condominium units across seven stories, with amenities including a residence lounge, fitness center, private parking, outdoor cabanas, and a game room.
The construction loan was negotiated by Morris Betesh and Alex Bailkin of Meridian Capital Group. “Prospect Heights is a highly desirable residential neighborhood with attractive retail amenities and transportation options. Sales velocity in the submarket has held up this year despite high interest rates. Sponsorship was able to buy out a long-term retail tenant at the site and get plans approved during the contract period, allowing us to close the construction financing simultaneously with their purchase of the site,” said Betesh.
Meridian Capital Group has facilitated a $25.75 million financing deal for the construction of a condominium property in Brooklyn, NY, in partnership with Meral Property Group and Loketch Group. Situated at 630 Grand Avenue in Prospect Heights, the residential property will feature 32 luxury condominium units across seven stories, with amenities including a residence …
The post Brooklyn Condo Lands $26M appeared first on Connect CRE.
Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.