Aview signs $46M construction loan with G4 Capital for development in Kensington

Aview Equities through its 57 Caton Partners, LLC as borrower signed a new construction loan with lender G4 Capital Partners through its G4 18215, LLC valued at $46.0 million for the development site (V1) at 57 Caton Place also known as 23 Ocean Parkway in Kensington, Brooklyn.
The deal closed on June 21, 2021 and was recorded on July 14, 2021.
The financing is composed of an $11.3 million land loan, a $25.4 million building loan and a $9.3 million project loan. The 131-unit project was filed under the address .

The owner bought the property on May 28, 2014, for $7.2 million.
(B00501131) Plans for a 131-unit, 150,900 square-foot R-2 were filed on May 18, 2021.
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 issued on July 29, 2019 for a 113,887-square-foot storage S-1 building at 92 Caton Place.

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