Michael B. Niamonitakis refis $19.2M with Investors Bank for rentals in Brooklyn

Michael B. Niamonitakis of Meridian Properties, through the entity Benson Estates LLC as borrower signed a loan agreement with lender Investors Bank valued at $19.2 million for 8 parcels, including the tax class multifamily, over six families without stores (C1) and containing 149 residential units at 19 Parade Place, 1 Parade Place, 115 Parkside Avenue, 121 Parkside Avenue, 25 Woodruff Avenue, and others in Brooklyn. The deal closed on April 7, 2021 and was recorded on April 16, 2021.
The property has 167,290 square feet of built space and available development rights.
The average loan per unit is $129,128.
The last time the property sold was May 2, 2006 for $13,150,000.
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