Michael B. Niamonitakis borrows $13.6M for 86 units in Brooklyn

Michael B. Niamonitakis through the entity Marine Equities President LLC as borrower signed a loan agreement with lender New York Community Bank valued at $13.6 million for 2 parcels, including the tax class multifamily, more than six families with stores (C7) and containing 86 residential units at 866 Coney Island Avenue and 743 Empire Boulevard in Brooklyn. The deal closed on September 29, 2020 and was recorded on October 30, 2020.
The properties have 76,358 square feet of built space and available development rights.
The average loan per unit is $158,140.

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