Horizon Group borrows $7.7M from Bank Hapoalim for property acquisition in Brooklyn

Horizon Group through the entity Horizon At 376 Weirfield LLC (“Horizon 376”) as borrower signed an acquisition loan agreement with lender Bank Hapoalim valued at $7.7 million for 6 parcels, including the tax class miscellaneous open space (Z9) at 376 Weirfield Street, 378 Weirfield Street, 1438 Hancock Street, 1504 Jefferson Avenue, 391 Weirfield Street, and others in Brooklyn. The deal closed on October 30, 2020 and was recorded on November 10, 2020.
The property has 87,055 square feet of built space and available development rights.
The average loan per buildable square foot is $88.
This is an acquisition loan. The signatory for the borrower was David Marom.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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