Aview Equities signs $66M refi loan with Parkview Financial for 131-unit development in Windsor Terrace

UPDATED 5:20 a.m., December 7, 2023: Aview Equities through the entity 57 Caton Partners, LLC as borrower signed a refi loan with lender Parkview Financial through the entity Parkview Financial Reit, Lp valued at $66 million for the 131-unit development at 57 Caton Place in Windsor Terrace, Brooklyn.
The deal closed on December 29, 2021 and was recorded on January 12, 2022. The prior lender was G4 Capital Partners which held debt that had an original loan amount of $46 million.
The signatory for Aview Equities was Abraham Leifer. The signatory for Parkview Financial was Paul Rahimian.
(B00501131) Plans for a 131-unit, 150,900 square-foot residential (R-2) were filed on May 18, 2021.

The owner bought the property on May 22, 2014, for $7.2 million.

Abraham Leifer is the founder and CEO of Aview Equities.

In Windsor Terrace, the majority, or 46 percent of the 8.5 million square feet of built space are 1-4 family buildings, with residential elevator buildings next occupying 30 percent of the space. In sales, Windsor Terrace has the 39th highest sale turnover among other neighborhoods in Brooklyn with $31.6 million in sales volume in the last two years. For development, Windsor Terrace has had very little major developement activity relative to other neighborhoods.It had 181,267 square feet of commercial construction under development in the last two years, which represents 2 percent of the neighborhood’s built space.
On the tax block, the majority, or 44 percent of the 399,946 square feet of built space are specialty buildings, with industrial buildings next occupying 42 percent of the space.
Within a 400-foot radius of 57 Caton Place, PincusCo identified one commercial real estate item of interests occurred over the past 24 months.
It was a new building permit application filed on September 16, 2021 for a 308,136-square-foot R-2 building with 375 residential units at 11 Ocean Parkway.

Correction: A prior version of this post reported the total loan was $86 million, when in fact it was $66 million.

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