Heyme Bleier signs $18M refi loan with Peapack-Gladstone for two rentals in Williamsburg

Heyme Bleier through the entity 53-63 Walton LLC as borrower signed a refi loan with lender Peapack-Gladstone Bank valued at $18.0 million for two rentals including the 31-unit rental (D7) at 51 Walton Street in Williamsburg, Brooklyn and 31-unit rental (D7) at 59 Walton Street in Williamsburg, Brooklyn.
The deal closed on December 17, 2021 and was recorded on January 3, 2022.
The two properties have 70,485 square feet of built space according to PincusCo analysis of city data. The loan price per built square foot is $255 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for Heyme Bleier was Heyme Bleier. The signatory for Peapack-Gladstone Bank was Martin J. Brady.
(320516964)The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 31 residential units on February 26, 2016.
The owners according to the Department of Housing Preservation and Development includes David Steinmetz, head officer and Heyme Bleier, officer. The business entities are 53-63 Walton Llc and 53-63 Walton Llc.

Within a 400-foot radius of 59 Walton Street, PincusCo identified 10 commercial real estate items of interests occurred over the past 24 months.
Of those 10 items, seven were in new building development. There were three new building permit applications and four new building permits. The most recent of these seven items was a permit on June 17, 2021 for a 16,016-square-foot R-2 building with five residential units at 89 Union Avenue.
Of those 10 items, three were loans above $5 million totaling $210.5 million. The most recent of the three was Rabsky Group which borrowed $120 million from Bank Leumi secured by the 0-square-foot development site (V0) on UNION Avenue and three other properties on March 9, 2021.

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